Area served Worldwide Website www.apptio.com | Number of employees 501-1000 employees Founded 2007 | |
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Industry Computer software
IT services Key people Sunny Gupta (CEO, co-founder and president).,
Kurt Shintaffer (CFO, co-founder)
Larry Blasko (Chief Revenue Officer)
Barbara Gordon (Chief Customer Officer)
Ted Kummert (EVP Engineering & Cloud Operations)
John Morrow (EVP Corporate Development & General Counsel)
Chris Pick (Chief Marketing Officer) Products Business Management Applications Stock price APTI (NASDAQ) US$ 13.29 -0.25 (-1.85%)27 Feb, 2:20 PM GMT-5 - Disclaimer Headquarters Bellevue, Washington, United States Profiles | ||
Apptio is a Bellevue, Wash.-based company founded in 2007 that develops technology business management software as a service applications. In 2009, the company was the first investment for Silicon Valley venture capital firm Andreessen Horowitz.
Contents
- Executives and funding
- Technology Business Management Council
- Awards and industry recognition
- References
Apptio enterprise apps are designed to enable the assessment of IT service costs and communicate those costs to corporate leaders for planning, budgeting and forecasting purposes. The tools are designed to help CIOs run the technology departments as a business, tracking hardware, storage, cloud usage, applications, energy usage, cybersecurity, telecommunications, and reporting obligations.
The company has approximately 325 customers, including small companies as well as corporations such as Bank of America, Metlife, Cisco, Microsoft, Starbucks, JPMorgan Chase, Goldman Sachs, Boeing, Target, Xerox, Coca-Cola and DirecTV. In March 2014, Apptio opened offices in Sydney and Melbourne, Australia and announced Australian mining company Orica and two Australian federal government departments as customers.
Executives and funding
CEO Gupta was formerly a partner executive with Opsware, which venture capitalists Marc Andreessen and Ben Horowitz sold to Hewlett-Packard for $1.6 billion in 2007. When announcing that Apptio would be Andreessen Horowitz’s first investment, investor Ben Horowitz said, “Apptio has everything we like to see in investments—a big market with a significant problem.” In addition to Andreessen Horowitz’s investment, Apptio has raised a total of $136 million from Greylock Partners, Madrona Venture Group, Janus Capital and T. Rowe Price.
On September 23, 2016, Apptio raised $96 million with its IPO.
Technology Business Management Council
Apptio founded the Technology Business Management Council in 2012, a non-profit organization that had over 2,900 CIOs and other senior IT leaders by 2014. The council “aims to help IT departments run like businesses by setting standards and best practices” (Puget Sound Business Journal). The council held its first conference in November 2013.
Awards and industry recognition
In 2012, CEO Gupta was among Ernst & Young’s Entrepreneur of the Year award winners. The same year, Apptio received first place in Seattle Business magazine’s 100 Best Companies to Work For: Large Companies and received the magazine’s Tech Impact Award for Enterprise Computing.
In 2013, Apptio was cited for innovation in enterprise technology by Bank of America Merrill Lynch. Apptio co-founder and CTO Paul McLachlan received the Puget Sound Business Journal 2013 Innovator Award.
The Seattle Times called Apptio “the region’s next big tech company” in 2014.
In 2016, Apptio was ranked #16 on the Forbes Cloud 100 list.