Wednesday, January 12, 2011

Apptio Had Record 2010, Says Firm

Bellevue-based Apptio, which develops software for managing corporate data centers, said today that it had "record results" for 2010. The firm--which did not disclose actual financials--said it grew its revenue by 300 percent in 2010, and now has over $50 billion of enterprise IT spending under management. The firm said it had $7 billion under management in 2009. Apptio also revealed that its customers now include companies such as Bank of America, Boeing, Clorox, Facebook, Hilton Hotels, Level3, Northrop Grumman, Swiss Re, and Apollo Group. Apptio is headed by Sunny Gupta, and recently closed on $20M of Series C funding from Shasta Ventures, Andreessen Horowitz, Greylock Partners, Madrona Venture Group, and Cisco Systems.