Apptio lands Cisco investment, strategic partnership

Summary:Apptio, which makes on-demand software that tracks technology investments, has landed an equity investment from Cisco Systems as well as a reseller partnership.

Apptio, which makes on-demand software that tracks technology investments, said Thursday that it has landed an equity investment from Cisco Systems as well as a reseller partnership.

The company raised another $3.5 million from Cisco and current investors Andreessen Horowitz, Greylock Partners, Madrona Venture Group and Shasta Ventures. Apptio raised $16.5 million in August and the latest bit of cash brings the company's Series C round to $20 million, said Apptio CEO Sunny Gupta.

However, the extra capital is nice, but takes a backseat to a reseller agreement with Cisco. In a nutshell, Cisco will integrate Apptio's software into services deals the network giant has with enterprise customers. Apptio will ride shotgun with Cisco in three key areas: Data center virtualization, borderless networks and collaboration. "With Cisco, we have the world's best salesforce taking Apptio to market,"said Gupta.

Under Gupta, Apptio has been business forging alliances with key tech vendors. Last week, Apptio forged a partnership with Wipro.

Apptio's software can be implemented in 5 to 12 weeks.

Related: Apptio launches demand-based forecasting for IT budget and spend management

Can IT spending shift from reactive to proactive?

Topics: Banking, Cisco

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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