Apptio Announces Partnership with Cisco
Cisco provides equity investment. It also integrates Apptio’s Technology Business Management solutions with its own professional services in the data center virtualization, borderless networks, and collaboration architectures.
Technology Business Management developer Apptio announced this week that it secured an equity investment from a number of investors, including Cisco Systems. The funding will be used to help Apptio expand into new markets and drive product innovation.
Apptio says the investment closes its series C round, which also includes Andreessen Horowitz, Greylock Partners, Madrona Venture Group, and Shasta Ventures.
In addition to securing funding, Apptio also announced that beginning this quarter Cisco will integrate Apptio’s Technology Business Management solutions into its professional services engagements across three key architectures, including data center virtualization, borderless networks, and collaboration.
“We are thrilled to have completed our series C financing with the additional support of our existing investors as well as new strategic investor, Cisco,” says Apptio founder and CEO Sunny Gupta. “In addition, the integration of our Technology Business Management solution into Cisco’s professional services engagements is another strong endorsement. We believe our relationship with Cisco will speed the market adoption of Apptio’s Technology Business Management solution.”
By including Apptio Technology Business Management solutions in its Advanced Services portfolio, Cisco will enable customers to transform traditional IT infrastructures into efficient architectures.
” By integrating Apptio solutions, we will look to provide a competitive edge to customers to help them improve productivity, drive better decision making and effectively run the business of IT,” says Bill Ruh, Cisco’s vice president and general manager of Advanced Services.
