Apptio, Inc. is a

Bellevue Bellevue means "beautiful view" in French. Bellevue or Belle Vue may refer to: Places Australia * Bellevue, Queensland * Bellevue, Western Australia * Bellevue Hill, New South Wales Canada * Bellevue, Alberta * Bellevue, Newfoundlan ...

Washington Washington most commonly refers to: * George Washington (1732–1799), the first president of the United States * Washington (state), a state in the Pacific Northwest of the United States * Washington, D.C., the capital of the United States ** A ...

-based company founded in 2007 that develops technology business management (TBM)

software as a service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...

(SaaS) applications. Apptio enterprise apps are designed to assess and communicate the cost of IT services for planning, budgeting and forecasting purposes; Apptio's services offer tools for CIOs to manage technology departments' storage, applications, energy usage, cybersecurity, and reporting obligations; 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 Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

firm

Andreessen Horowitz AH Capital Management, LLC (commonly known as Andreessen Horowitz, or a16z) is an American privately held venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. As of M ...

. The company has approximately 550 customers of various sizes. The company went public in September 2016. On November 11, 2018, it was announced that Apptio would be acquired by the private equity firm

Vista Equity Partners Vista Equity Partners Management, LLC is an American private equity firm that invests in software, data, and technology-enabled businesses. It is one of the largest private equity firms in the world, managing over $100 billion in assets. Vista Eq ...

for $1.9 billion. That same year, Apptio acquired Digital Fuel, a cloud computing expenditure company, for $42.5 million. In June 2023,

IBM International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...

agreed to acquire Apptio from Vista for $4.6 billion. The acquisition was completed on August 10, 2023.

History

The company was founded in 2007 by Sunny Gupta, Kurt Shintaffer and Paul McLachlan. Prior to founding the company, Gupta and Shintaffer worked together at before it was purchased by Opsware in 2007. In November 2007, the company received $7 million in funding from Madrona Venture Group and Greylock Partners while it was operating in stealth mode. Apptio raised an additional $14 million in Series B funding from the newly formed Andreessen Horowitz fund in 2009. In 2010, the company raised an additional $16.5 million in Series C funding led by Shasta Ventures, with participation from previous investors. In March 2012, the company raised an additional $50 million in Series D funding to continue scaling, hiring and expanding its services. In 2013, Apptio raised an additional $45 million in Series E funding, bringing its total raised to $136 million from firms including

Greylock Partners Greylock Partners is one of the oldest venture capital firms, founded in 1965, with committed capital of over $3.5 billion under management. The firm focuses on early-stage companies in consumer and enterprise software. History Greylock wa ...

Madrona Venture Group Madrona Venture Group is an American venture capital firm, founded in 1995 and based in Seattle Seattle ( ) is the most populous city in the U.S. state of Washington and in the Pacific Northwest region of North America. With a populat ...

, Janus Capital and T. Rowe Price. In March 2014, Apptio opened offices in

Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...

and

Melbourne Melbourne ( , ; Boonwurrung language, Boonwurrung/ or ) is the List of Australian capital cities, capital and List of cities in Australia by population, most populous city of the States and territories of Australia, Australian state of Victori ...

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

. In 2015, the company announced that it was adding an office in

Denver Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...

. Apptio added another international office in March 2016, when it announced it would open an office in

Paris, France Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...

. On September 23, 2016, Apptio raised $96 million with its

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. On February 2, 2018, Apptio completed the acquisition of Digital Fuel SV, LLC, a provider of IT business management (ITBM) tools. On November 11, 2018, Apptio entered into definitive agreement to be acquired by Vista Equity Partners for $1.94 billion. Apptio shareholders received $38.00 in cash per share, representing a 53% premium to the unaffected closing price as of November 9, 2018. In 2019, Apptio acquired Cloudability, a firm that manages cloud spend. Apptio opened its first

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

office location in August 2019. In May 2020, LeanIX revealed technology collaboration with Apptio to include core IT spending data analytics. In February 2021, the company acquired Targetprocess, a software platform that specializes in business investments, for agile. In April 2021, Apptio launched a redesigned portfolio of products including: ApptioOne, Targetprocess, and Cloudability. Apptio announced its first certified solution and integration with

ServiceNow ServiceNow, Inc. is an American software company based in Santa Clara, California, that supplies a cloud computing platform for the creation and management of automated business workflows. It is used predominantly for the automation of informati ...

in July 2021. The following month, Apptio opened its

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Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukrai ...

office. In December 2021, the company announced its collaboration with

Microsoft Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The ear ...

to deploy Apptio’s platform on Microsoft Cloud to help enterprises migrate and optimize workloads. Apptio also partnered with

to accelerate enterprise transformation and improve hybrid cloud technology that same year. In June 2023,

agreed to acquire Apptio from Vista Equity Partners for $4.6 billion in an all-cash deal. In August, the company announced the completion of the acquisition of Apptio.

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. It was reported by the ''

Puget Sound Business Journal American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes ''The Business Journals'', which contains local business news for 44 markets in the United States with each market ...

'' that the council "aims to help IT departments run like businesses by setting standards and best practices" . The council held its first conference in November 2013.

References

External links

* {{IBM, state=collapsed Companies based in Bellevue, Washington Software companies based in Washington (state) Companies formerly listed on the Nasdaq Software companies established in 2007 American companies established in 2007 2016 initial public offerings 2019 mergers and acquisitions Business software companies Private equity portfolio companies Software companies of the United States 2023 mergers and acquisitions IBM acquisitions IBM subsidiaries