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Apptio Achieves Record Results in 2011 With Over $101 Billion in IT Spend Under ManagementPioneering Provider of Technology Business Management Doubles Major Enterprise Customers and More Than Doubles Bookings From 2010 (January 31, 2012)
BELLEVUE, WA -- (Marketwire) -- 01/31/12 -- Apptio, the leading provider of on-demand Technology Business Management (TBM) solutions, today announced that it has achieved record results across all facets of its business in 2011. In addition, revenue for the company more than doubled from 2010 and the company also doubled its enterprise customer base over the course of the year, including American Express, DirecTV, General Motors, Goldman Sachs, NIKE, Nomura Holdings, Prudential Financial, and Yahoo!. With the addition of these customers Apptio now manages more than $101B of IT spend in its enterprise SaaS platform.
"By every measure, 2011 was a landmark year for Apptio and the year in which the Technology Business Management market came into its own as a substantial business category," said Sunny Gupta, co-founder, president and CEO of Apptio. "We have grown bookings 121% year over year and continue to add more Fortune 500 enterprise organizations to our customer ranks. The rapid growth of Apptio is the product of enterprise CIOs recognizing the need to run their IT organization more like a business and our team's unrelenting focus on creating wildly successful customers. Apptio ended our fiscal year 2011 with 80 customers spread over multiple industries and geographic locations."
Other major highlights from FY 2011 include:
- Product Innovation: Apptio brought several new product innovations to market in 2011, including two major releases. The new releases included dozens of significant new capabilities including two new applications (Demand & Resource Planning and Vendor Management), a Data Confidence Index, and five new IT service costing accelerators to help customers realize faster time-to-value.
- CIO TBM Council: Apptio hosted two CIO TBM Council events in 2011, bringing together more than 300 CIOs and IT executives from some of the world's leading enterprise organizations. The three-hour events featured case study presentations from some of the world's most innovative CIOs, including Rebecca Jacoby, CIO for Cisco, Robert Webb, CIO for Hilton Worldwide, and Kim Hammonds, CIO for Boeing, who showcased how they are applying Technology Business Management to transform their IT organization.
- Global Strategic Alliances: Apptio expanded its strategic alliance program by announcing alliance relationships with ServiceNow and HP. In addition, the company's consulting services and technology partners, including resellers Wipro and Cisco, contributed directly to many new customers opportunities including several new multi-million dollar customer agreements in 2011.
- Company Growth & European Expansion: To support the strong demand for its suite of solutions, Apptio doubled its staff in 2011 to 230 employees, rounded out its executive team with key hires including the appointment of Dione Hedgpeth VP of Customer Success, Colin Rowland to lead its European expansion, and also appointed Larry Godec, CIO of First American Financial as Strategic Advisor to its Board of Directors. In addition, Apptio opened its first Center of Excellence in the Raleigh-Durham area focused on working with customers to design and configure solutions to meet their specific TBM requirements.
- Launch of Apptio Community: To further empower its customers to make the most of their TBM investment, Apptio launched the Apptio Community, the first online community site designed for IT Financial Managers and Technology Business Management practitioners. Through this dynamic discussion forum, TBM practitioners and product experts can ask questions directly of one another to maximize value around Apptio's five on-demand applications. To drive operational adoption of TBM into existing processes -- or in the creation of new ones -- the Apptio community features comprehensive web-based training programs, online support, and a best practices repository with sample dashboards, reports and vertical processes.
- Industry Recognition: Apptio was honored with seven industry awards in 2011, including Apptio's CEO Sunny Gupta being named as a Finalist for the Ernst & Young Entrepreneur of the Year award, TIE 50 Most Promising Start-ups, AlwaysOn Global 250, Dow Jones FASTech50, and was also honored by Seattle Business Magazine as the second Best Place to Work in Washington State. The independent analyst firm 451 Research also recognized Apptio as the "bellwether company" in the IT Financial Management category.
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, Cisco, Clorox, Facebook, JPMorgan Chase, Microsoft, St. Luke's Health System, and Swiss Re rely on Apptio to manage more than $101 billion in annual IT spending. For more information, visit the Apptio website or the Lean IT blog.
Barokas PR for Apptio
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