Apttus Defies Market Trends with Up-round Valuation and Path to Profitability
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 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.
- Apttus has received $88M in Series D funding
- Investment was led by GII and includes investors from previous Apttus funding rounds
- Apttus’ valuation has risen since its 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
“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.”