September 13, 2017 by Alex Cohen
SAN MATEO, CA – September 13, 2017 – Apttus, which provides the first and only platform to combine end-to-end Quote-to-Cash business process automation with behavior applications and artificial intelligence to enable customers to maximize revenue, today announced it has raised a $55 Million Series E funding round. Investors in this round include new investor, Premji Invest, and existing investors Salesforce, K1, and Iconiq.
- Series E round is being led by Premji Invest, the private equity arm of Wipro Limited chairman Azim Premji, and also includes investments from existing investors, Salesforce Ventures, K1, and Iconiq.
- Max, Apttus’ artificial intelligence agent, uses a conversational interface to simplify enterprise applications, including Quote-to-Cash and CRM, and can be extended to any business application. Powered by machine learning, Max becomes the first applied artificial intelligence for Quote-to-Cash and Contract Management solutions available today.
- Apttus was bootstrapped from its founding in 2006 until its first investment round in late 2012.
- Apttus’ total funding to-date is now $329M.
- Apttus is a global organization, with over 1,100 employees and over 600 customers.
“Apttus pioneered and defined the Quote-to-Cash and Contract Lifecycle Management markets and is a leader in these segments. Now with the advent of Max, Apttus’ artificial intelligence agent, we have redefined this market yet again,” said Kirk Krappe, Chairman and CEO of Apttus. “Today, we’ve secured funds that will allow our ongoing advancement of an industry we helped create over a decade ago.”
“Premji Invest is always highly selective in its investments, working with the strongest management teams and the most promising companies,” said Sandesh Patnam, Partner and Lead Investor in the US for Premji Invest. “In Apttus, we have found a team and market opportunity that fits that description perfectly, and we look forward to working with them to help realize the full potential of the platform.”
“Salesforce Ventures invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures. “Apttus’ Quote-to-Cash capabilities extend the value of the Salesforce Platform.”
“The Salesforce Platform has been a foundation empowering Apttus to innovate and drive towards continued customer success,” said Kirk Krappe, Chairman and CEO of Apttus. “Over the past ten years, Salesforce has been a valuable partner and investor in Apttus, and we look forward to continuing to work together to drive continued innovation in the Quote-to-Cash category.”
Goldman Sachs & Co. LLC served as placement agent on the transaction.
Apttus, the category-defining Quote-to-Cash and Contract Lifecycle Management technology company, drives the vital business process between a buyer’s interest and the realization of revenue. Utilizing a patented combination of SaaS-based applications, the Apttus Intelligent Cloud platform helps our customers, achieve better business outcomes. Enhanced by Machine Learning and Max, an artificial intelligent agent, Apttus applications include Configure Price Quote, Contract Lifecycle Management, E-Commerce, Billing Management, Revenue Recognition, Deal Management, Order Management, Promotions Management, Incentive Compensation Management, Rebate Management, and X-Author. The Apttus Intelligent Cloud platform is powered by 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.wpengine.com.