Apttus, a maker of quote-to-cash software built on the Salesforce1 platform, has raised $88 million in Series D funding. The San Mateo, Calif.-based startup last raised $108 million in September 2015, which at the time bumped its valuation to more than $1 billion.
Founded in 2006, Apttus built its platform around an area where few others have gone. The enterprise sales process is made up of multiple moving parts, most of which have been reimagined several times over since the onset of cloud-computing. But if there's one link in the sales chain that has received less attention than others, it's the quote-to-cash process.
In a nutshell, quote-to-cash is the end-to-end process that covers the entire sales lifecycle, from product and service configuration to quote creation, through contract negotiations and signing the contract, to managing invoicing, billing, orders, and finally revenue.
Apttus aims to take all of those processes and centralize them on a unified dashboard and integrate the data into the broader sales workflow.
Apttus says it plans to use the latest funding to fuel its return to operational profitability and further carve out its path to an initial public offering, which is says is planned for early 2017. The company projects a market opportunity of $41 billion for quote-to-cash service providers.
"Today, we've secured funds that will return us to operational profitability and continue our advancement of the industry we created over a decade ago," said Kirk Krappe, CEO and co-founder of Apttus. "This enormous step forward in our path to IPO, and all of our accomplishments, stems from our deep dedication to the success of our customers."
Apttus' Series D was led by GII and includes investors from previous Apttus funding rounds, including K1, Iconiq, and KIA.