Apptio Hired Banks for an IPO

Apptio, a cloud-based software startup that helps companies analyze their spending on technology, is reportedly preparing for an IPO.  Apptio hired Goldman Sachs, J.P. Morgan and Bank of America to lead the offering.  The company – which last month named co-founder Kurt Shintaffer as chief financial officer – is expected to be valued at $1bn.  Apptio has raised $136m in total funding from Janus Capital, T. Rowe Price, The Hillman Comparies, Greylock Partners, Andreessen Horowitz, and others.

Apptio is a member of the Triton Research IPO Watchlist, a continuously updating database of companies we expect to either IPO or be acquired.  The current IPO Watchlist is comprised of 106 companies organized by investment theme.