Apptio, a US-based technology business management company previously backed by technology company Cisco, has raised a $50m fourth round of funding. Apptio’s software helps executives measure the costs of technology.
T Rowe Associates led the round for Apptio on Wednesday, with venture firms Andreesen Horowitz, Greylock Partners, Madrona Venture Group, and Shasta Ventures also investing.
The Series D brings the total amount raised by Apptio to $91m. The company announced Apptio board member Tom Bogan, a partner at Greylock, had become chairman.
Allen & Company advised Apptio on the financing. Rebecca Jacoby, chief information officer at Cisco, is on Apptio’s board as an adviser. Apptio was founded in 2007.