There's another tech IPO in the pipeline, and it's coming out of Seattle


apptio ceo sunny gupta


Apptio CEO Sunny Gupta

Seattle-area startup Apptio, which helps IT departments manage the software and services that they buy, has filed to go public.


You can read Apptio's full S-1 filing with the SEC here.

Apptio's S-1 filing reveals that the company posted $129.3 million in revenue in 2015, with strong 21% growth from 2014. 82% of Apptio's revenue comes from subscriptions to its service, a good sign that it's keeping customers around.

However, Apptio also posted a $41 million loss. And, per the same filing, Apptio expects to continue to incur losses for "the foreseeable future" as revenue growth slows and it invests in expanding its sales, product development, and recruitment efforts.

That gives Apptio a hard road ahead to profitability. Twilio, which had a much-hyped and ultimately successful IPO earlier in 2016, isn't profitable either, but it's showing strong revenue growth. It remains to be seen how investors will react to Apptio, given that its revenue growth is slowing.


The filing doesn't say how many shares Apptio plans to sell as part of the offering (it lists a $75 million offering price, though that number is typically a placeholder that will change closer to the offering date). The company will list on the Nasdaq exchange under the symbol "APTI."

Goldman Sachs, JP Morgan, and Bank of America Merrill Lynch are underwriting Apptio's IPO. Apptio's private market investors include Madrona Venture Group, Andreessen Horowitz, and Greylock Partners, who invested a combined $136 million in the company since its founding in 2007.

With this filing, Apptio is expected to actually hit the public markets in September.