Apptio

Apptio, Inc.
Company typeSubsidiary
Nasdaq: APTI
IndustryComputer software
IT services
Founded2007; 17 years ago (2007)
Founders
  • Sunny Gupta
  • Paul Mclachlan
  • Kurt Shintaffer
Headquarters
Bellevue, Washington
,
United States
Area served
Worldwide
Key people
  • Sunny Gupta (CEO)[1]
  • Kurt Shintaffer (CFO)
  • Jeremy Ung (CTO)
  • Allison Breeding (CMO)
ProductsBusiness Management Applications, Cloud Financial Management, Investment Planning
Revenue$300 million (2020)[2]
OwnerVista Equity Partners (2019–2023)
Number of employees
1,200 (2020)[2]
Parent
  • IBM (2023–present)
Websitewww.apptio.com

Apptio, Inc. is a Bellevue, Washington-based company founded in 2007 that develops technology business management (TBM) software as a service (SaaS) applications.[3][4][5] Apptio enterprise apps are designed to assess and communicate the cost of IT services for planning, budgeting and forecasting purposes;[6] Apptio's services offer tools for CIOs to manage technology departments' storage, applications, energy usage, cybersecurity, and reporting obligations;[7] manage the costs of public cloud, migration to public cloud and SaaS portfolios; and adopt and scale Agile across the enterprise.

In 2009, the company was the first investment for Silicon Valley venture capital firm Andreessen Horowitz.[8] The company has approximately 550 customers[9] of various sizes.[10][11] The company went public in September 2016.[12]

On November 11, 2018, it was announced that Apptio would be acquired by the private equity firm Vista Equity Partners for $1.9 billion.[13] That same year, Apptio acquired Digital Fuel, a cloud computing expenditure company, for $42.5 million.[14]

In June 2023, IBM agreed to acquire Apptio from Vista for $4.6 billion.[15] The acquisition was completed on August 10, 2023.[16]

  1. ^ "Leadership". Apptio. Retrieved May 10, 2023.
  2. ^ a b Tony Lystra (January 26, 2021). "How Sunny Gupta led Apptio to a record-breaking end to 2020". Puget Sound Business Journal. Retrieved June 23, 2022.
  3. ^ Ovide, Shira (18 November 2013). "IPO Candidate Apptio Adds 3 Public-Company Veterans". WSJ Digits. Retrieved 20 March 2014.
  4. ^ King, Rachel (15 May 2013). "TBM startup Apptio raises $45M; plans to expand global footprint". ZDNet. Retrieved 20 March 2014.
  5. ^ Grant, Rebecca (15 May 2013). "Andreessen Horowitz's first investment Apptio closes $45M fifth round". VentureBeat. Retrieved 20 March 2014.
  6. ^ Horton, Nick (July 2012). "100 Best Companies to Work For 2012: Large Companies". Seattle Business magazine. Retrieved 20 March 2014.
  7. ^ Bond, Phillip J. (15 Nov 2014). "A new way to track government spending on technology". The Hill. Retrieved 7 Jan 2014.
  8. ^ Ricketts, Camille (19 August 2009). "First Andreessen Horowitz investment, Apptio, raises $14M". Venture Beat. Retrieved 20 March 2014.
  9. ^ "Apptio, Inc. Completes Acquisition of Digital Fuel From Skyview Capital". Apptio. Archived from the original on February 3, 2018. Retrieved March 12, 2018.
  10. ^ Hesseldahl, Arik (15 May 2013). "Apptio Lands $45 Million Series E From Janus Capital". All Things D. Retrieved 20 March 2014.
  11. ^ Dudley, Brier (6 November 2013). "Apptio founder Sunny Gupta on building the region's next big tech company". The Seattle Times. Archived from the original on 13 April 2014. Retrieved 20 March 2014.
  12. ^ Cite error: The named reference seattletimes was invoked but never defined (see the help page).
  13. ^ Krazit, Tom (2018-11-11). "Vista Equity Partners to pay $1.9 billion in private-equity deal for Apptio". GeekWire. Retrieved 2018-11-12.
  14. ^ Tom Krazit (February 2, 2018). "Apptio acquires former VMware spinoff Digital Fuel for $42.5M". GeekWire. Retrieved April 30, 2022.
  15. ^ Malik, Yuvraj (June 26, 2023). "IBM to buy software co Apptio for $4.6 bln to bolster cloud offerings". Reuters.
  16. ^ Geraldo, Renata (2023-08-14). "Tech giant IBM finishes $4.6 billion acquisition of Bellevue firm". The Seattle Times. Retrieved 2023-08-14.