Quote-to-Cash CRM Provider Apttus Raises $55 Million in VC

Apttus' total funding to-date is now $329 million; the San Mateo, Calif.-based company was bootstrapped from its founding in 2006 until its first investment round in late 2012.

Apttus, the Salesforce.com-based provider of automated quote-to-cash business services, revealed Sept. 13 that it has raised a $55 million in a Series E funding round. Participants include a new investor, Premji, and existing investors Salesforce, K1 and Iconiq.

Premji Invest is the private equity arm of Wipro Limited chairman Azim Premji. Apttus' total funding to-date is now $329 million; the San Mateo, Calif.-based company was bootstrapped from its founding in 2006 until its first investment round in late 2012.

Max, Apttus' signature artificial intelligence digital agent, uses a conversational interface to simplify complex enterprise applications, including quote-to-cash and customer resource management, and the company claims it can be extended to any business application. Powered by a machine learning engine, Max is the first applied artificial intelligence for quote-to-cash and contract management now available, the company claims.

Apttus, a global organization with more than 1,100 employees and 600 customers, claims to provide the first and only platform to combine end-to-end quote-to-cash business process automation with behavior applications and artificial intelligence to enable customers to maximize revenue.

Apttus applications include Configure Price Quote, Contract Lifecycle Management, E-Commerce, Billing Management, Revenue Recognition, Deal Management, Order Management, Promotions Management, Incentive Compensation Management, Rebate Management and X-Author.

The Apttus Intelligent Cloud platform runs on trusted cloud platforms such as Salesforce and Microsoft Azure. For more information, go here.

Chris Preimesberger

Chris J. Preimesberger

Chris J. Preimesberger is Editor of Features & Analysis at eWEEK, responsible in large part for the publication's coverage areas. In his 12 years and more than 3,900 stories at eWEEK, he...