Menlo Park-Based VCs Take Part in Apptio's $50 Million Round

Menlo Park, Calif. -- A trio of Menlo Park-based venture capital firms -- Andreessen Horowitz, Greylock Partners and Shasta Ventures -- has taken part in a new $50 million funding round for Seattle-based Apptio, developer of web-based software used by companies to manage their technology businesses. T. Rowe Price Associates led the company’s fourth round, which also included participation by Madrona Venture Group. The company, which now has raised $91 million since its inception, will use the proceeds to further develop its core platform and expand market penetration. Apptio also on has named board member Tom Bogan as its chairman. Bogan is currently chairman of the board at Citrix. The company currently counts more than 85 clients, including Bank of America, Boeing, British Petroleum, Cisco, First American, JPMorgan Chase and Swiss Re.
http://www.apptio.com
http://www.apptio.com/news-events/press-releases/20120315-apptio-closes-50-million-series-d-round.php