Apptio Adds Enterprise Software Veterans to Board and Management Team

Business Wire,  May 5, 2008  

• E-mail
• Print
• Link

Yuval Scarlat, Former SVP of Mercury Interactive, Joins Board of Directors and Key Advisors Marc Andreessen and Ben Horowitz to Help Maximize Initial Customer Traction and Guide Company Through Its Next Stage of Growth

BELLEVUE, Wash. -- Apptio, an on-demand software vendor focused on enabling IT organizations to optimize their services and operations, today announced three new management team additions and a new member of its board of directors, Yuval Scarlat, a former senior executive of Mercury Interactive. The combination of Scarlat and the new management team members brings extensive experience in general management, product management, marketing and sales to Apptio and will serve to further accelerate the company's development. Apptio is currently operating in stealth mode and has received broad validation of its value proposition and experienced great customer traction.

Joining the Apptio Management team are:

* Eric Berg, VP Product Management & Marketing

Berg brings over 15 years of industry experience in both early-stage and larger, high-growth software businesses. Most recently, he was at Microsoft where he ran product management and marketing for its System Center family of systems management products, leading that business to become the fourth largest and fastest growing major systems management vendor in terms of revenue.

* Dan Adams, VP Sales Central & Western Region

Adams brings over 15 years of sales and marketing experience in high technology software. Most recently, he was at Citrix Systems where he ran the North Central region, and previously ran the Central Region for Mercury Interactive's IT Governance products.

* Michael Sullivan, VP Sales Eastern Region

Sullivan brings over 12 years of enterprise software sales experience. Most recently, he served as a Strategic Account Executive in the Eastern US for Opsware (HP) where he grew revenue from $200K to $16+M in less than 4 years. Sullivan was consistently ranked one of Opsware's top 3 sales executives worldwide.

Apptio also announced that Yuval Scarlat has joined its board of directors. A former SVP of Products at Mercury Interactive, the leading provider of Business Technology Optimization (BTO) software, Scarlat was instrumental in setting the strategy that led to revenue exceeding a billion dollars, leadership positions in Mercury's key markets and tens of thousands of successful customers. Scarlat joins a board that already includes Tom Bogan (Greylock Partners), Matt McIlwain (Madrona Venture Group), Sunny Gupta (Apptio CEO and co-founder, former EVP of Products at Opsware and co-founder of iConclude), and Kurt Shintaffer (Apptio CFO and co-founder, former CFO of iConclude).

These leadership announcements build on Apptio's series A funding which closed in November 2007, was led by Greylock Partners and Madrona Venture Group and raised over $7 million for the company. Additional investors included:

* Marc Andreessen, software pioneer who co-founded both Netscape (AOL) and Opsware (HP)

* Frank Artale, VP of Business Development at Citrix Systems, former SVP at XenSource (Citrix) and CEO of Consera (HP)

* Ben Horowitz, SVP of the Software Group at HP, former co-founder and CEO of Opsware (HP)

* Ignition Partners and Shasta Venture Group

"Our new executive team and board members all have been extremely successful in their respective fields and bring considerable experience to Apptio," said Sunny Gupta, CEO and co-founder of Apptio. "We are thrilled to attract such key players to the team and are confident that they will help us build the next great, enterprise software-as-a-service company."

About Apptio

Apptio is an innovative software-as-a-service vendor focused on developing solutions that enable IT organizations worldwide to optimize their services and operations. Founded in 2007 by an executive team with over 50 years of experience in enterprise systems management software building high growth businesses, Apptio is backed by Greylock Partners and Madrona Venture Group with additional investors including Marc Andreessen, Ben Horowitz, Frank Artale, Ignition Ventures, and Shasta Ventures.

About Greylock Partners

Founded in 1965, Greylock Partners is one of the world's leading early-stage venture capital firms. Over the past 40 years, Greylock funded and helped build several hundred successful companies in the United States, Israel, and Europe. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an 'invited guest' in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock funded include Ascend Communications, Continental Cable, DoubleClick, Internet Security Systems, Legato, Millennium Pharmaceuticals, Phone.com (now OpenWave), Tellabs, Trilogy, Red Hat, and Sungard. Greylock's offices are located in the Boston area and in Silicon Valley. For more information, visit www.greylock.com.

About Madrona Venture Group