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Apttus scores $55M as it closes in on an IPO

Apttus scores $55M as it closes in on an IPO
From TechCrunch - September 13, 2017

Apttus, the unicorn quote-to-cash vendor built on the Salesforce platform, announced a $55 million round, which is likely its final private investment on the way to an IPO.

While CEO Kirk Krappe wouldnt definitively confirm the company was going public, he did say that todays round was about gaining the confidence of future investors. We decided we needed a certain amount of equity on the balance sheet. When a company is going public or up for acquisition, the investors want to be sure you are liquid. It puts you in a better situation, he explained. Our growth is enormous still, but we felt it was prudent to do final quick equity round, he added.

The $55 million round was led by Premji, the private equity arm of Wipro, the Indian systems integrator. Existing investors Salesforce, K1 and Iconiq joined in.

The company, which has now raised a total of $329 million on a unicorn valuation of $1.3 billion (as of September, 2016), hasnt been afraid to look internationally for funding in recent years. In fact, its $108 million Series Cincluded the Kuwait Investment Authority as an investor, while its $88 million Series D included funding from Saudi Arabia.

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