SAN MATEO, Calif., Feb. 2, 2015 /PRNewswire/ -- Apttus, the category-defining Quote-to-Cash solution provider, today announced it has raised $41 million in a Series B funding round. Salesforce Ventures, Salesforce's global corporate investment group, led the round. Additional investors include K1 Capital and Iconiq. The investment builds on Apttus' long-term commitment to customer success with the Salesforce Platform. After first receiving $37 million in Series A funding in September 2013, Apttus has reinforced its dominant marketplace outpacing revenue for the third consecutive year and establishing its expansive product suite as an essential driver of profit and efficiency for users of Apttus.
Apttus is a provider of cloud solutions for configure price quote, e-commerce, contract management, renewals management and revenue management: critical business solutions that provide an unbroken funnel from initial quoting to revenue management, known as the Quote-to-Cash process. The company has experienced significant growth since its founding in 2006, and was recently selected to the Deloitte Fast 500 list for the first time due to its growth rate over the previous five years.
The addition of Series B funding serves not only as fuel for Apttus' continued growth, but also as a testimony to the vitality and strength of the Salesforce ecosystem. Apttus applications are built on the Salesforce1 platform, which has allowed Apttus to service over 300 of Salesforce's enterprise customers, including 70 of the Fortune 500.
- Apttus has received $41M in Series B funding
- The round was led by Salesforce Ventures
- Apttus received $37M in Series A funding in September of 2013
- Apttus' pioneering of the Quote-to-Cash cycle has brought scalable speed and efficiency to sales and revenue processes across the Salesforce ecosystem and beyond
- Learn more about Apttus, starting with a look back at its dominant 2014 Year in Review
"Adhering to the values we based this company on has resulted in a level of success that goes beyond all of our initial expectations," said Kirk Krappe, CEO and co-founder of Apttus. "What's truly important though, is continuing to exceed the expectations of our customers. As we continue on this path, growing and innovating alongside strategic partners and investors that share our values is the key to our future success."
"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, Salesforce. "Apttus' leading Quote-to-Cash capabilities extend the value of the Salesforce1 platform. We are excited to help the company accelerate its growth and establish a new standard in how companies do business."
Apttus, the category-defining Quote-to-Cash software company, drives the vital business process between the buyer's interest in a purchase and the realization of revenue. Apttus is delivered on the Salesforce1 Platform, the world's most trusted and comprehensive cloud delivery infrastructure. Applications include Quote-to-Cash Intelligence (Analytics), Configure Price Quote (CPQ), Renewals, 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, Bozeman, Montana and Ahmedabad, India. For more information visit: apttus.com.
About Salesforce Ventures
Salesforce Ventures—Salesforce's corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 100 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.
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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.