In May 2020, Apttus bought contract lifecycle management (CLM) specialist Conga and adopted its name for trading. This resulted in significant turnover in the executive ranks, as Thoma Bravo installed a new CEO, CFO, Chief Legal Officer, Chief People Officer, Vice President of Finance, and Corporate Controller by the end of 2018. In September 2018, private equity firm Thoma Bravo purchased a majority stake in Apttus. The cost of the purchase was not revealed. Thoma Bravo took a majority stake in Apttus in September 2018. The 2015 acquisition of Apttus rival SteelBrick by Salesforce, an early Apttus investor, was widely blamed for Apttus’ inability to complete an IPO or find a buyer at more favorable terms. ĭespite publicly discussing the likelihood of an initial public offering in 2016, the company never went public before being acquired by Thoma Bravo. By the time of its 2018 buyout, Apttus had received a total of $404 million in investment capital from five rounds of fundraising, which gave the company a valuation of approximately $1.3 billion, as of September 2016. The company was bootstrapped and took no outside funding until 2013, when it raised $37 million in Series A financing from a group of investors including K1 Capital, ICONIQ, and Salesforce. Krappe served as the company's first CEO, with Giri as Chief Solutions Officer and Perkocha as Chief Customer Officer. The three co-founders reportedly developed the company from ideas written down on napkins in a laundry room. History Īpttus (the former name of Conga) was founded in 2006 by Kirk Krappe, Neehar Giri, and Kent Perkocha. In May 2020, Apttus merged with contract lifecycle management (CLM) specialist Conga and took its name. Apttus’ software was originally developed to leverage the Salesforce customer relationship management platform, but it has since been integrated with Microsoft Azure and IBM Cloud as well. The company provides what it calls “middle office” solutions, utilizing artificial intelligence to optimize various financial and commercial functions, such as quote-to-cash, revenue management, and e-commerce management. Revenue management, contract management, ecommerce managementĪpttus Corporation, doing business as Conga, is an American business-to-business software provider specializing in business process automation and Contract Lifecycle Management (CLM) tools. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's terms of use.
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