San Mateo, California-based Apttus, a quote-to-cash solution provider, has secured $88 million in Series D funding. The backers included K1, Iconiq and KIA.

PRESS RELEASE

SAN MATEO, CA – September 29, 2016 – Apttus, the category-defining Quote-to-Cash solution provider, today announced it has raised an $88M Series D funding round. Apttus’ value has risen significantly since its last funding round in September of 2015: this up-round valuation can be directly attributed to the ongoing success of Apttus customers, global expansion, and the outcome-focused solutions of the Apttus Intelligent Cloud.

Investors in this round include GII and a mix of old and new investors, including K1, Iconiq and KIA. This investment follows a $37M Series A round in September 2013, a $41M Series B round in February 2015, and a $108M Series C round in September 2015. This brings Apttus’ total funding raised to $274M.

The funds will be used to deliver transformative business solutions to Apttus customers across the globe, and allow Apttus to run its operations profitably, while continuing its rapid growth and long history of innovation. The market opportunity of Quote-to-Cash solutions is projected to grow to $41B by 2018: Apttus continues to assert its dominance as the industry originator and leader.

KEY CONSIDERATIONS
Apttus has received $88M in Series D funding

Investors include GII and investors from previous Apttus funding rounds

Apttus’ valuation has risen significantly since it’s September 2015 Series C funding round, defying market trends and expectations

The Apttus Intelligent Cloud has revolutionized Quote-to-Cash, applying machine-learning capability to the entire revenue operation

Apttus solutions are now guided by Max, an intelligent agent that responds to voice commands, text inputs and augmented reality interactions: these transformative offerings are available immediately

Apttus was bootstrapped from its founding in 2006 until its first investment round in late 2013

This round will fuel Apttus’ return to operational profitability

Apttus customers include over 100 of the Fortune 500

Apttus is a global organization, with over 1,200 employees, 500+ customers, and millions of users

COMMENTARY
“Apttus has brought the transformative power of Quote-to-Cash to hundreds of organizations and millions of users, and our transformative machine learning offerings have guaranteed a bright future for the entire Apttus community,” said Kirk Krappe, CEO and co-founder of Apttus. “Today, we’ve secured funds that will return us to operational profitability and continue our advancement of the industry we created over a decade ago. This enormous step forward in our path to IPO, and all of our accomplishments, stems from our deep dedication to the success of our customers.”

About Apttus
Apttus, the category-defining Quote-to-Cash software company, drives the vital business process between the buyer’s interest in a purchase and the realization of revenue. Utilizing a patented combination of SaaS-based applications, the Apttus Intelligent Cloud maximizes the entire revenue operation by driving behavior and providing prescriptive data to company decision-makers. Apttus offers enhanced Configure Price Quote (CPQ), E-Commerce, Contract Management, Renewals and Revenue Management solutions on the world’s most trusted cloud platforms, including Salesforce and Microsoft Azure. Apttus is based in San Mateo, California, with additional offices located across the globe. For more information visit: apttus.com.
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