Cloud Computing: Apptio Picks Up $50 Million Round
The venture capital boys must have been bitten by the largesse bug. Another cloud company has pulled in a monster fourth round. Apptio, which already has $41 million, is getting a fresh $50 million from newcomer T Rowe Price (mostly) as well as existing investors Andreesen Horowitz, Greylock, Madrona Venture Group and Shasta Ventures, evidently persuaded the four-year-old start-up is on to a billion-dollar market.
It makes enterprise B2B SaaS software that lets CIOs manage, monitor, budget and forecast their IT spending, including online services. They’re supposed to use it to communicate IT’s cost, quality and value to business management. It will use the money on sales expansion, product development and customer service. It’s going to hire more people adding about 100 to its staff of 260 by the end of the year…


In the last month,