SAN MATEO — Apttus, a provider of Quote-to-Cash business process automation, has raised a $55 Million Series E funding round. Investors in this round include new investor, Premji, which led the round and existing investors Salesforce, K1, and Iconiq.
Premji Invest is the private equity arm of Wipro Limited chairman Azim Premji, and also includes investments from existing investors Salesforce Ventures, K1, and Iconiq.
Apttus’ total funding to-date is now $329 million.
Max, Apttus’ artificial intelligence agent, uses a conversational interface to simplify enterprise applications, including Quote-to-Cash and CRM, and can be extended to any business application. Powered by machine learning, Max becomes the first applied artificial intelligence for Quote-to-Cash and Contract Management solutions available today.
Apttus was bootstrapped from its founding in 2006 until its first investment round in late 2012.
Apttus is a global company with over 1,100 employees and over 600 customers.
“Apttus pioneered and defined the Quote-to-Cash and Contract Lifecycle Management markets and is a leader in these segments. Now with the advent of Max, Apttus’ artificial intelligence agent, we have redefined this market yet again,” said Kirk Krappe, Chairman and CEO of Apttus. “Today, we’ve secured funds that will allow our ongoing advancement of an industry we helped create over a decade ago.”
“Premji Invest is always highly selective in its investments, working with the strongest management teams and the most promising companies,” said Sandesh Patnam, Partner and Lead Investor in the US for Premji Invest. “In Apttus, we have found a team and market opportunity that fits that description perfectly, and we look forward to working with them to help realize the full potential of the platform.”
Goldman Sachs & Co. LLC served as placement agent on the transaction.