Yuval Scarlat, Forver SVP of Mercury Interactive, Joins Board of Directors and Key Advisors Marc Andreessen and Ben Horowitz to Help Maximize Initial Customer Traction and Guide Company Through Its Next Stage of Growth
Bellevue, Wash. – May 5, 2008 – Apptio, an on-demand software vendor focused on enabling IT organizations to optimize their services and operations, today announced three new management team additions and a new member of its board of directors, Yuval Scarlat, a former senior executive of Mercury Interactive. The combination of Scarlat and the new management team members brings extensive experience in general management, product management, marketing and sales to Apptio and will serve to further accelerate the company’s development. Apptio is currently operating in stealth mode and has received broad validation of its value proposition and experienced great customer traction.
Joining the Apptio Management team are:
- Eric Berg, VP Product Management & Marketing
Berg brings over 15 years of industry experience in both early-stage and larger, high-growth software businesses. Most recently, he was at Microsoft where he ran product management and marketing for its System Center family of systems management products, leading that business to become the fourth largest and fastest growing major systems management vendor in terms of revenue.
- Dan Adams, VP Sales Central & Western Region
Adams brings over 15 years of sales and marketing experience in high technology software. Most recently, he was at Citrix Systems where he ran the North Central region, and previously ran the Central Region for Mercury Interactive’s IT Governance products.
- Michael Sullivan, VP Sales Eastern Region
Sullivan brings over 12 years of enterprise software sales experience. Most recently, he served as a Strategic Account Executive in the Eastern US for Opsware (HP) where he grew revenue from $200K to $16+M in less than 4 years. Sullivan was consistently ranked one of Opsware’s top 3 sales executives worldwide.
Apptio also announced that Yuval Scarlat has joined its board of directors. A former SVP of Products at Mercury Interactive, the leading provider of Business Technology Optimization (BTO) software, Scarlat was instrumental in setting the strategy that led to revenue exceeding a billion dollars, leadership positions in Mercury’s key markets and tens of thousands of successful customers. Scarlat joins a board that already includes Tom Bogan (Greylock Partners), Matt McIlwain (Madrona Venture Group), Sunny Gupta (Apptio CEO and co-founder, former EVP of Products at Opsware and co-founder of iConclude), and Kurt Shintaffer (Apptio CFO and co-founder, former CFO of iConclude).
These leadership announcements build on Apptio’s series A funding which closed in November 2007, was led by Greylock Partners and Madrona Venture Group and raised over $7 million for the company. Additional investors included:
- Marc Andreessen, software pioneer who co-founded both Netscape (AOL) and Opsware (HP)
- Frank Artale, VP of Business Development at Citrix Systems, former SVP at XenSource (Citrix) and CEO of Consera (HP)
- Ben Horowitz, SVP of the Software Group at HP, former co-founder and CEO of Opsware (HP)
- Ignition Partners and Shasta Venture Group
“Our new executive team and board members all have been extremely successful in their respective fields and bring considerable experience to Apptio,” said Sunny Gupta, CEO and co-founder of Apptio. “We are thrilled to attract such key players to the team and are confident that they will help us build the next great, enterprise software-as-a-service company.”
Apptio is the leading independent provider of on-demand Technology Business Management (TBM) solutions for managing the business of IT. Apptio enables IT leaders to manage the cost, quality and value of IT Services by providing deep visibility into the total cost of IT services, communicating the value of IT to the business through an interactive Bill of IT™, and strategically aligning the planning, budgeting and forecasting processes. Apptio's TBM solutions play a critical role in helping companies understand and drive chargeback, virtualization, cloud and other key technology initiatives. Global enterprise customers such as Bank of America, Boeing, JPMorgan Chase, Microsoft, St. Luke's Health System, and Swiss Re rely on Apptio® products and services to reduce costs and align IT with business priorities. For more information, visit the Apptio website or the Apptio blog.