Reflecting on 2013 Successes and Defining 2014 Aspirations
We just wrapped our annual corporate kickoff – commonly known to Apptians as “Aspire.” More than 400 employees gathered at our Bellevue headquarters, many traveling from the east coast, Europe and Asia to align on 2014 goals, celebrate our achievements in 2013, and have a little fun competing in hackathons and guacamole contests. It was overwhelming to feel the energy and hunger of our employees as we embark on what I think will be our best year yet.
First and foremost, we exist because of our customers. We wouldn’t be here without their partnership, passion for our shared vision, and their vested interest in creating greater business. Our focus in 2013 was to make our customers wildly successful, to have a true impact on their professional lives, and to give IT leaders a new way to manage the business of IT. We are humbled to acknowledge that one-third of Fortune 100 companies are now Apptio customers and are taking this journey with us. We were also humbled to have six customers present to our company at this year’s Aspire!
To help our customers succeed, we released updates to all of our cloud-based Technology Business Management (TBM) applications. These include our Cost Transparency product that automates IT cost reporting in categories that are familiar to IT functional leaders – things like server/compute, storage, and application development. These are the same categories that our IT Benchmarking products use, so customers can easily compare their costs and other metrics against their industry peers.
Additionally, we worked with our customers to develop a standardized and common definition of IT products/services, common allocations, data model, reporting, and analytics and baked this into our products. This is really important because customers won’t need to re-invent the wheel when adopting TBM and can get quicker time to value.
Building Our Team
Culture eats strategy any day of the week. Since culture is defined by our people, we continue to recruit the best people into Apptio. In 2013 we hired several influential new executive leaders, all of whom bring incredible experiences and expertise to our team. They included Sean Boyle, chief financial officer, Alex Shootman, president of Worldwide Field Operations, and Ted Kummert, executive vice president of Engineering and Cloud Operations. We also introduced board members Peter Klein, former chief financial officer of Microsoft, and John McAdam, current chief executive officer of F5 Networks.
Additionally, we closed a $45 million Series E funding round, bringing the total amount raised by Apptio to $136 million. Funding is incredibly important to helping us bring more innovation to market and grow TBM rapidly.
Throughout 2013 we continued to gain validation of Technology Business Management software category. TBM software addresses a need that isn’t being met by existing IT financial management products or other software categories. And growth in the TBM Council tells us that CIOs agree. Through our role as the Council’s technical advisor, we continue to champion the TBM Council, helping grow membership from 238 to over 1,100.
We also supported the first inaugural TBM Conference in November, drawing more than 400 CXOs and senior IT leaders together to discuss how they’ve applied TBM in their companies. Customers like Larry Godec (First American), Jim Scholefield (The Coca-Cola Company), Mike Benson (DIRECTV), Don Duet (Goldman Sachs), and dozens of others shared stories of measuring, managing, and communicating the business value of IT. We couldn’t have expected more.
2014 – Our Best Year Yet
So what comes next? This year, more than ever, we are determined to reach a broader market. We’ve proven the value of our TBM software at some of the biggest and most complex companies on earth. And now we’re doing the same thing for smaller companies, government agencies, and non-profits. We want to make Apptio the IT/business value management solution of choice for all companies, of all sizes, across all verticals. To do so, we will focus on expanding our products and expanding into new geographic areas.
We will advance our applications to meet the needs of our growing customer base, specifically in the areas of Analytics and Next Generation TBM applications that automate IT processes. We will continue scaling our SaaS Platform and innovate on new Data (benchmarking) Services.
We are also increasing self-service access to applications so customers can get value extremely quickly.
And finally, we are expanding our footprint in North America, Europe and Asia Pacific. I can’t wait to share more with you soon.
Aspire is a special time for us because we have the whole family in the same place – a rarity for any growing family. I am extremely proud to celebrate the things that we’ve accomplished, and the places we are going. We are 100% focused on helping IT leaders solve the problem of creating greater business value, and we alone have the software, know-how and passion to solve it. Here’s to another great year!