Investors in this round include Iconiq Capital, K1 Capital, KIA and Salesforce Ventures; The investment follows a $37M Series A round in September 2013 and a $41M Series B round in February 2015. The funds will be used to provide new business solutions and services to Apttus customers and prospects in areas such as manufacturing, life sciences, financial services and telecommunications. The round was led by KIA, the oldest and one of the world’s largest sovereign wealth funds. This investment will strengthen Apttus’ leading position within the market opportunity that it helped to create in 2006.
Apttus is a provider of cloud solutions for price quote configuration, e-commerce, contract management, X-Author and revenue management: critical business solutions that deliver unbroken funnel throughout the sales cycle, known as the quote-to-cash process. Since its foundation, Apttus has built its solutions on the Salesforce1 Platform and has been an active partner and participant in the Salesforce ecosystem. This funding round is a strong indicator not only of Apttus’ growth potential and product suite, but also of Salesforce’s strength as a development platform for companies of all sizes.
CONSIDERATIONS KEY
Apttus received $108M in Series C funding.
Apttus received $37 million in Series A funding in September 2013 and $41 million in February 2015.
Apttus’ pioneering quota-to-cash cycle has brought scalable speed and efficiency to sales and revenue processes.
The customers of Apttus include 70 of the Fortune 500
Apttus is expected to close 2015 with more than 1,000 employees, quadruple the 2013 final headcount.
New offices in London, Sydney, Chicago and the upcoming location in Japan have cemented Apttus’ global impact.
COMMENTARY ACCOUNT
‘Our forward-thinking, dedicated customer base has created a wonderful opportunity for us, and we are very pleased to have the capital to pursue it,’ said Kirk Krappe, CEO and co-founder of Apttus. ‘The partners and investors we have chosen for this opportunity are aligned with our highest priority, the success and growth of our customers. With their support, we are extremely excited to take the next step on this rare and powerful path together. ”
‘The great vision of the Apttus team has created a software investment opportunity that we were forced to take part in,’ said Farouq Bastaki, Executive Director of Alternative Investments at KIA. ‘Apttus has redefined the quota-to-cash process and we believe that the future of how organizations manage their entire revenue operation has been developed—a modern front office in the cloud. We are excited to be a critical component of the global transformation they deliver to customers of all sizes across the globe. ”
‘Salesforce Ventures is committed to investing in start-up companies that deliver technology that enables companies to connect with their customers in completely new ways,’ said John Somorjai, TEU of Corporate Development and Salesforce Ventures, Salesforce Ventures. ‘Apttus’ acceleration testifies to the growth potential and power of the Salesforce1 Platform across all industries. ”
On the Apttus
Apttus, the Category-Defining Cash-to-Cash Software Company, is driving the vital business process between the purchaser’s interest in the purchase and the realization of the revenue. Apttus is delivered on the Salesforce1 Platform, the most trusted and comprehensive cloud delivery infrastructure in the world. Applications include Rate-to-Cash Intelligence (Analytics), Configure Price Rate (CPQ), Renewal, Contract Management and Revenue Management. In addition, an Apttus patent pending X-Author technology enables Microsoft Office to be a user interface with full interaction and control between Salesforce and Microsoft Office. Apttus is based in San Mateo, California, with additional offices in London, United Kingdom, Bozeman, Montana and Ahmedabad, India. Visit: aptus for more information Come on,
Salesforce Ventures
Salesforce Ventures-Salesforce’s corporate investment group-invests in the next generation of enterprise technology to help companies connect with their customers in a completely new way. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and guidance from Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the Salesforce Foundation’s expertise to incorporate its 1-1-1 integrated philanthropy model to return part of their business model. Since 2009, Salesforce has invested in more than 150 enterprise cloud startups. Please visit www for more information. Sales Forces Com/Adventures
Salesforce, Salesforce1, AppExchange and others are trademarks of the sales force. Come, inc
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This news release contains forward-looking statements that reflect the company’s expectations of future events. Actual events may differ from those anticipated in this document.
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