SOURCE: Apptio

Apptio

September 08, 2011 12:46 ET

Dow Jones VentureWire Recognizes Apptio as Top Innovative Technology Startup

Leading Technology Business Management Provider Named to 2011 FASTech50 List

SEATTLE, WA--(Marketwire - Sep 8, 2011) - Apptio, the leading provider of on-demand Technology Business Management (TBM) solutions, today announced that the company was named to Dow Jones VentureWire's FASTech 50, an elite list honoring this year's most innovative venture-backed technology start-ups. Competing against more than 2,000 technology companies from the software, cloud, data storage, social media, mobile and health-care IT industries, Apptio joins past award FASTech 50 winners including Foursquare, Dropbox and Quora.

The VentureWire FASTech 50 is an annual list of the most investment-worthy technology start-ups as selected by a board of leading venture capitalists and the editors of Dow Jones VentureWire. To be eligible for the list, a company must be venture-backed and have launched a product within the last three years that breaks from conventional industry methods, introduces a novel technology or markedly advances an existing product or service.

"The FASTech 50 is an honor that further validates our company's innovative approach to enterprise IT," said Sunny Gupta, co-founder, president and CEO of Apptio. "Apptio joins an exclusive group of highly successful companies with revolutionary products, many of which have risen to prominence in the technology industry. This award fuels our passion to provide CIOs with solutions that transform the business of IT."

Raising $41 million in venture-capital from Andreessen Horowitz, Cisco, Greylock Partners and others, Apptio has pioneered the Technology Business Management category and is focused on making every IT organization a more efficient and effective partner with the business. Apptio's TBM solution gives IT and finance leaders the insight needed to minimize IT costs, make ROI-optimized decisions, align IT resources around business needs and ensure business leaders clearly understand the value of IT. Since 2010, the company has seen revenue growth of more than 300 percent, signing Fortune 1000 companies such as Boeing, Clorox, Facebook, JPMorgan Chase, Microsoft, Motorola and Expedia.

"Venture capitalists are always searching for start-ups that are developing truly original technology with the potential to transform the marketplace," said Scott Austin, editor of Dow Jones VentureWire. "The FASTech 50 cuts through the clutter of me-too start-ups to highlight companies developing the most innovative and investment-worthy technologies."

Apptio and the other FASTech winners will be honored at the FASTech Conference on November 8-9, 2011 in Redwood City, CA. The full list of FASTech 50 winners is available at http://fastech.dowjones.com/index.php/speakers#fastech50.

About Apptio

Apptio is the leading independent provider of SaaS-based Technology Business Management (TBM) solutions for managing the business of IT. Apptio enables IT leaders to manage the cost, quality and value of IT Services by providing deep visibility into the total cost of IT services, communicating the value of IT to the business through an interactive "Bill of IT," and strategically aligning the planning, budgeting and forecasting processes. Apptio's TBM solutions play a critical role in helping companies understand and drive chargeback, virtualization, cloud and other key technology initiatives. Global enterprise customers including Bank of America, Boeing, Cisco, Clorox, Facebook, JPMorgan Chase, Microsoft, Northrop Grumman, St. Luke's Health System, and Swiss Re rely on Apptio to manage more than $50 billion in annual IT spend. For more information on Apptio, please visit http://www.apptio.com or the Lean IT blog at http://leanit.apptio.com/.

About Dow Jones FASTech

Dow Jones VentureWire FASTech, November 8-9 in Redwood City, Calif., will assess the dynamics driving innovation and success in the technology industry through exclusive interviews, analysis driven by Dow Jones editors and presentations from the most investment-worthy start-ups pre-screened by leading venture capitalists. To register, visit http://fastech.dowjones.com/.

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