Fast-growing Apptio is deepening its bench of management talent, attracting some heavyweights from Microsoft and Amazon.com.
The Bellevue company, which raised $50 million in venture funding last year and another $45 million this past May, has named former Amazon.com vice president of investor relations Sean Boyle as CFO and former Microsoft corporate vice president Ted Kummert as executive vice president, engineering and cloud operations.
It also appointed former Microsoft CFO Peter Klein to the board.
The appointment of Klein and the new hires could signal that Apptio is gearing up for an initial public offering in 2014. We’ve mentioned in the past that Apptio, which now employs 400 people and has raised $136 million in venture funding from T. Rowe Price, Andreessen Horowitz, Madrona and others, could be on the fast-track to an IPO.
“Being a public company has never specifically been our goal, it is building a great, long-lasting company here in the Northwest,” Apptio co-founder and former CFO Kurt Shintaffer told us earlier this year. Shintaffer is now moving into the role of senior vice president of finance and accounting, as part of the new additions.
CEO Sunny Gupta echoed those comments in a statement sent to GeekWire today.
“Our sole focus is on building a long-lasting company that changes the way CIOs run IT,” he said. “We’ll consider every option that sets us up for growth and longevity, but we don’t have any specific plans at this time. We raised our last round of funding in May with an enthusiastic base of investors.”
In a press release, Gupta added that they are excited to bring on Klein, Kummert and Boyle.
“Their appointments come at an exciting time as we broaden our (Technology Business Management) footprint around the world,” he said. “The collective experience of these executives will complement our vision for aggressive market growth and will bolster the expertise of our board and leadership team.”
Kummert left Microsoft earlier this year, joining Madrona Venture Group as a venture partner. During his tenure at Microsoft, Kummert oversaw development of enterprise software products such as SQL Server, Windows Azure Data Services and Microsoft’s business intelligence and big data offerings.
