Cisco to Integrate Apptio Technology Business Management Solution into Professional Services Engagements with Large Enterprise Customers
BELLEVUE, Wash. - November 4, 2010 - Apptio, the leading provider of on-demand Technology Business Management (TBM) solutions, today announced that it secured an equity investment from investors including Cisco. The additional funding will be used to scale Apptio's business across all functions, expand the company's growth into new markets and drive product innovation. The investment closes Apptio's series C round which also includes Andreessen Horowitz, Greylock Partners, Madrona Venture Group and Shasta Ventures.
In addition to securing funding, Apptio also announced that beginning this quarter Cisco will integrate Apptio's Technology Business Management solutions into its professional services engagements with enterprise customers across three key architectures, including data center virtualization, borderless networks and collaboration. These network-centric architectures serve as a critical foundation for next-generation enterprise IT environments, making the business of managing them a top priority for today's Fortune 1000 customers.
"We are thrilled to have completed our series C financing with the additional support of our existing investors as well as new strategic investor, Cisco," said Sunny Gupta, founder and CEO of Apptio. "In addition, the integration of our Technology Business Management solution into Cisco's professional services engagements is another strong endorsement of the value that we deliver to today's largest IT organizations. We believe our relationship with Cisco will speed the market adoption of Apptio's Technology Business Management solution, helping customers achieve higher cost efficiency, greater delivered value and better alignment to business objectives."
By including Apptio Technology Business Management solutions in Cisco's Advanced Services portfolio, Cisco will enable its enterprise customers to further transform their traditional IT infrastructures into resilient and efficient architectures that drive business value. Customers can leverage Apptio to gain significant insight into the cost, quality and value of IT.
"Apptio is the market leader in providing today's IT organizations with the proven ability to increase efficiency and align IT with business priorities," said Bill Ruh, vice president and general manager of Advanced Services at Cisco. "By integrating Apptio solutions, we will look to provide a competitive edge to customers to help them improve productivity, drive better decision making and effectively run the business of IT."
Through the collaborative relationship, Apptio hopes to benefit from Cisco's extensive sales reach, executive relationships, and deep expertise across data center virtualization, borderless networks and collaboration technologies. Likewise, Cisco hopes to benefit from Apptio's early lead and market leadership in Technology Business Management. The collaboration is expected to enable Cisco to immediately provide customers with holistic business management capabilities for its solutions, including advanced decision analytics to improve IT cost and performance.
"As a customer of both Apptio and Cisco, we believe there is a natural fit between Apptio Technology Business Management and Cisco's architectural vision," said Deborah Gash, CIO at Saint Luke's Health System. "Cisco can now provide me with deep insight into the cost, value and performance of our IT operations, allowing us to make better decisions about infrastructure as we adopt the Cisco solution architectures to drive down costs and increase the business value of IT."
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.
Barokas PR for Apptio