Larry Blasko Joins as VP of Sales and Michel Feaster Takes the Helm as VP of Products

Bellevue, Wash. – September 28, 2009 – Apptio, the leading provider of on-demand IT Financial Management software, today announced it has expanded the company’s management team with the appointment of Larry Blasko as vice president of sales and Michel Feaster as vice president of products. This is the first in a series of leadership, sales, marketing, and research and development efforts that will accelerate Apptio’s growth and allow the company to address the huge market demand for better IT Financial Management solutions.

“Our vision is to create Seattle’s next big software company, and our leadership team serves as the backbone of this effort,” said Sunny Gupta, co-founder, president and CEO of Apptio. “Larry and Michel’s deep insight, operational excellence and enterprise software experience will be integral to leading Apptio through its next phase of growth. The combination of business and technology acumen that these executives bring to the table is perfectly aligned with our desire to help CIOs everywhere more effectively manage the business of IT.”

“Demand for Apptio’s software is at a peak, as many CIOs struggle to put their arms around reducing costs, improving operational efficiencies, and developing systems and metrics to run the business of IT,” said Larry Blasko. “Companies like Apptio that offer a strong value proposition to the CIO, are few and far between. Apptio is leading the IT Financial Management charge with solutions that are purpose-built for the type of customers I know very well.”

Larry brings over 15 years of experience building and leading high performance sales teams in the enterprise software industry. Prior to joining Apptio, he was a vice president of sales for HP Software (which he joined via the Opsware acquisition), leading a team that delivered over $100 million in annual revenues. At Opsware, he served as senior vice president of sales for Eastern North America where he played a key role in the rapid growth and adoption of Opsware’s data center automation technology, increasing annual revenues from a baseline of $3 million to over $65 million in just four years. Before joining Opsware, Larry spent over six years in various sales leadership roles at Veritas Software, contributing to their rapid ascent and eventual acquisition by Symantec. Larry was a commissioned officer in the United States Army and holds an MBA from The George Washington University in Washington, DC.

“CIOs are truly like cobblers whose children have no shoes in terms of having systems and processes to manage their own finances,” said Michel Feaster. “Apptio has many things playing in its favor, from a quick time-to-value SaaS delivery model, best in class activity-based costing engine and a broad range of functionality. We’re in a unique position to deliver a set of world class applications focused on helping the CIO manage the business of IT.”

Armed with over a decade of experience across sales, marketing and product management, Michel will lead Apptio’s products organization, drive strategy and oversee execution of its product roadmap. Prior to Apptio, Michel was with Mercury Interactive and HP Software where she held numerous sales and product management roles including LoadRunner product manager and director of products for Quality Center. Michel was also the primary architect during HP’s $1.6 billion acquisition of Opsware, leading the integration of the companies and managing the automation business which ultimately established HP Software as the market leader in datacenter and service automation.

About Apptio

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 chargebackvirtualizationcloud 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.

Contact:

Karli Overmier
Barokas PR for Apptio
[email protected]
206-264-8220