SAN MATEO, CA--(Marketwired - Sep 17, 2013) - Apttus, the category-defining Quote-to-Cash solution provider, today announced it has raised a $37 million funding round, its first ever, from K1 Capital, ICONIQ Capital and salesforce.com.
Apttus is a provider of cloud solutions for quote-to-cash automation including configure price quote, contract management, renewals management and revenue management. The company has experienced meteoric growth every year since its founding in 2006 with 100 percent revenue growth in 2013. Recent product releases have further expanded Apttus' market opportunity and are fulfilling customer demand and need for an integrated end-to-end quote-to-cash automation software suite.
The investment signals the tremendous strength of the salesforce.com ecosystem as well as investor alignment with the Apttus vision and market opportunity. Apttus is a long-standing partner of salesforce.com with applications built natively on the Salesforce Platform.
"Listening and responding to our customers has been key to our success in changing the paradigm for quote-to-cash automation," said Kirk Krappe, CEO and co-founder of Apttus. "We have established a platform to innovate and delight our customers with high impact solutions. I am excited that our new strategic partners are strong believers in our vision and values."
"We are pleased to have the opportunity to invest in a category-defining company with impressive growth, a deep bench of loyal customers and huge potential for expansion," said Neil Malik, managing partner, K1 Capital. "It is exceptional for a SaaS company to achieve such great success prior to a first funding round and clearly demonstrates the execution capability of its management team. We're looking forward to working with Apttus as it delivers on its vision, and I'm excited to join the Apttus board of directors."
"Salesforce.com's ecosystem includes a broad range of visionary partners that help us extend the value of the Salesforce Platform, the world's #1 cloud platform," said Mike Rosenbaum, EVP of Salesforce Platform, salesforce.com. "Apttus has been delivering products for many years that are making our joint customers successful, and we think they have a bright future ahead."
Apttus delivers category-defining software that drives the vital business process between the buyer's interest in a purchase and the realization of revenue. Delivered on the world's most trusted and comprehensive cloud platform, the Salesforce Platform, Apttus' Quote-to-Cash solutions increase sales and maximize visibility and control. Applications include Configure-Price-Quote (CPQ), Proposal Management, Contract Management and Revenue Management. Additionally, Apttus' patent pending X-Author technology enables Microsoft Office to be a user-interface with full interaction and control between Salesforce and Microsoft Office. Apttus is based in San Mateo, California, with additional offices in London, UK and Ahmedabad, India. For more information visit: apttus.com.
About K1 Capital
K1 is a West Coast based private equity firm investing in high-growth enterprise software and technology companies around the world.
About ICONIQ Capital
ICONIQ Capital is a global multi-family office and merchant bank for a group of influential families.
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This news release contains forward-looking statements that reflect the Company's expectations with regard to future events. Actual events could differ from those anticipated in this document.