Quote-to-Cash Solution Provider Apttus Secures $41M

Apttus, a San Mateo, California-based quote-to-cash solution provider, has raised $41 million in a Series B funding round led by Salesforce.com (CRM) global corporate investment group Salesforce Ventures. Investors K1 Capital and Iconiq Capital also participated in the funding round.

Kirk Krappe, Apttus’ CEO, said his company plans to use the Series B funding to bolster its sales efforts and expand globally.

“We already have a great product and a huge addressable market, so we must scale our sales efforts accordingly, which means not only increasing the salesforce but also business development representatives and sales engineers,” he told MSPmentor. “We will also utilize this funding for international expansion, growing our presence in EMEA from 55 employees to 85 and improving our resources in Australia, Japan, Singapore and Brazil.”

Here’s some background on what Apttus’ offering provides to MSPs.

The quote-to-cash process is important for MSPs because it “covers the entire sales lifecycle, from pricing to product and service configuration, to quote creation, through negotiating and signing the contract, to managing invoicing, billing, orders and revenue recognition,” Apttus said.

And with most recent funding, Krappe noted that Apttus would better support MSPs and ensure that these service providers can use his company’s quote-to-cash solution to optimize their channel and customer relationships.

“The funding will allow us to continue to exceed the expectations of our customers, growing and innovating alongside them,” he added.

Apttus previously secured $37 million in Series A funding in Sept. 2013 and has been expanding its quote-to-cash footprint over the past eight years. Apttus’ applications are built on the Salesforce1 Platform, which has allowed the quote-to-cash solution provider to service over 300 Salesforce enterprise customers.

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