Apptio, a provider of of on-demand technology business management (TBM) applications, has closed $45m fifth round of funding, bringing the total funding to $136m.
The funds will be used to expand the company’s technology platform and its international presence, as well as speed up the growth of TBM category.
The funding round was led by new investments from funds managed by Janus Capital, The Hillman Company, and an unnamed global institutional investor.
Existing investors, Andreessen Horowitz, Greylock Partners, Madrona Venture, Shasta Ventures and certain accounts managed by T. Rowe Price Associates, have also participated in the latest round of funding.
Apptio founder and CEO, Sunny Gupta, said that in the middle of the services transformation, TBM is a must-have set of business management applications and analytics for Global 2000 enterprises.
"Every CIO needs to understand and measure the cost, quality and value that IT delivers to the business — and be able to communicate them in terms that matter to the CEO and the chief financial officer," Gupta added.
Apptio co-founder and chief financial officer, Kurt Shintaffer, said every other executive in the enterprise has a purpose-built system for managing their business.
"We’re delivering the system for the CIO, and we’ve combined it with a proven methodology and a strong community of leaders who are literally writing the book on best practices," Shintaffer said.
