Computer server company Cisco Systems has joined the investment consortium for Apptio, a US-based software as a service provider to track the cost of information technology products, to close its C round at $20m.
The additional $3.5m from the consortium came with an agreement by Cisco to use Apptio’s technology business management service with businesses needing data centre virtualization, borderless networks and collaboration.
Bill Ruh, vice president and general manager of Advanced Services at Cisco, said: "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."
In December, Rebecca Jacoby, chief information officer at Cisco, joined Apptio’s board as an adviser.
The other consortium members are venture capital firms Andreessen Horowitz, which recently closed its second fund at $650m, Greylock Partners, Madrona Venture Group and Shasta Ventures.
Apptio closed its series B round at $14m in August last year.