Apptio
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| Industry | Computer software IT services |
|---|---|
| Founded | 2007 |
| Headquarters | Bellevue, Washington, United States |
|
Area served
|
Worldwide |
|
Key people
|
Sunny Gupta (CEO, co-founder and president).,[1][2] Sean Boyle (CFO) |
| Products | Business Management Applications |
|
Number of employees
|
501-1000 employees [3] |
| Website | www |
Apptio is a Bellevue, Wash.-based company founded in 2007 that develops technology business management software as a service applications.[1][4][5] In 2009, the company was the first investment for Silicon Valley venture capital firm Andreessen Horowitz.[6]
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.[7] 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.[8]
The company has approximately 250 customers,[9] 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.[1][10][11] [12] 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.[13]
Contents
Executives and funding
Apptio has approximately 550 employees.[1] In November 2013, Apptio hired the former head of investor relations at Amazon.com, Sean Boyle, as its CFO.[1] At that time, Ted Kummert, formerly an executive with Microsoft’s corporate-software group, was hired as Apptio’s executive vice president of engineering and cloud operations, and Microsoft’s former CFO, Peter Klein was added to Apptio’s board.[1] The moves were viewed as an indication that Apptio was heading toward an initial public offering.[1]
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.[5][10] 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.”[5] 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.[1][10]
Technology Business Management Council
Apptio founded the Technology Business Management Council in 2008,[14] a non-profit organization that had over 1,100 CIOs and other senior IT leaders by 2014.[14] The council “aims to help IT departments run like businesses by setting standards and best practices” (Puget Sound Business Journal).[15] The council held its first conference in November 2013.[11]
Awards and industry recognition
In 2012, CEO Gupta was among Ernst & Young’s Entrepreneur of the Year award winners.[16] The same year, Apptio received first place in Seattle Business magazine’s 100 Best Companies to Work For: Large Companies[7] and received the magazine’s Tech Impact Award for Enterprise Computing.[17]
In 2013, Apptio was cited for innovation in enterprise technology by Bank of America Merrill Lynch.[18] Apptio co-founder and CTO Paul McLachlan received the Puget Sound Business Journal 2013 Innovator Award.[19]
The Seattle Times called Apptio “the region’s next big tech company” in 2014.[11]
References
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