Start up company Apptio provides assistance to large companies such as Boeing Co to keep track of billions of dollars of technology expenditures. The firm had announced that it was able to raise US$45 million from institutional investors such as Janus Capital Group.
Other investors in the startup include T.Rowe Price, the investment firm of billionaire Henry Hillman, The Hillman Company and other venture capitalist backers such as Andreessen Horowitz, Madrona Venture Group and Greylock Partners also put in their money.
Led by CEO Sunny Gupta, Apptio has raised a total of US$136 million with the previous funding round valuing the company at about US$600 million. According to Gupta, this latest round was a significant increase from that previous valuation but did not disclose a specific figure.
Apptio is one among the many start up technology companies that have helped enterprise utilize the full value of cloud computing services. Apptio has partnered with Amazon Web Services, the cloud business of Amazon.com Inc, the online retail giant. AWS has increasingly utilized on partners to help engage other companies into cloud computing.
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