Salesforce leads $41M investment in 'quote to cash' firm Apttus

The startup's cloud apps are built on the Salesforce1 platform.

Salesforce's investment arm has led a major funding round that delivered $41 million in fresh cash to Apttus, a maker of cloud software that helps companies manage price quotes and sales contracts.

The Series B round, led by Salesforce Ventures and announced Monday, follows Apttus's $37 million in Series A funding in September 2013, for a total of $78 million. K1 Capital and Iconiq also participated in both rounds.

This latest investment reportedly represents the largest Salesforce has ever made in a company it wasn't simply buying.

Apttus's "quote to cash" applications -- covering the sales process from price quotes to revenue management -- are built on the Salesforce1 platform, which enables vendors to create apps that can be easily integrated with other platform apps, including Salesforce CRM.

Among its offerings are its Configure-Price-Quote (CPQ) product as well as applications for contract management, renewals and revenue management.

In all, Apttus has served more than 300 of Salesforce's enterprise customers, including 70 of the Fortune 500, it said.

"This is an important event for both companies," said Denis Pombriant, managing principal at Beagle Research Group.

"First, it validates Apttus' torrid growth," Pombriant said. "They've done quite a bit with their Series A and are ready to take on more capital and have more explosive growth."

For Salesforce, meanwhile, it's a strategic move. Perhaps most notably, it "highlights a platform-native company that's making good using the Salesforce1 platform to build its product and business," he added.

Looking ahead, "Salesforce continues its own growth, and that will be accentuated by vendors using the Salesforce1 platform to spread their benefits," Pombriant said.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags cloud computinginternetbusiness issuesSalesforce.comservicesinvestmentsApplication services

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Katherine Noyes

IDG News Service
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?