IT management software company Apptio plans to hire at least 100 new employees this year at its Bellevue, Wash., headquarters. The company raised $50 million earlier this month from T. Rowe Price Group Inc. and existing investors Greylock Partners, Madrona Venture Group, and Shasta Ventures. (Updated: Apptio reached out after the publication of this story to say that they actually plan to hire 100 additional employees this year, not the 70 they originally stated.This article has been revised to reflect that new estimate).
Founded in 2007, the 270-person company makes cloud-based "technology business management" software. It's a kind of Salesforce.com for chief information officers and other IT managers. The company's software helps executives track projects, vendor and contractor relationships, demand for services and budgeting, said Chief Marketing Officer Chris Pick.
For chief information officers looking to justify their budgets to chief executives who might view IT spending as a black hole, the software provides a detailed accounting money spent and the tangible results, Pick said.
"For many years, IT has never had a business management system of their own," Pick said. "This allows the CIO to run the functions of IT like any other business."
Apptio has 90 customers, many of them large businesses, including Microsoft and Yahoo, but also has growing companies like Facebook, Pick said.
The company is hiring software engineers with experience in Java, relational databases and agile development processes. In addition, it plans to hire people with data analytics experience and product managers. Sales positions will be open across the U.S., as well as in the United Kingdom and Germany.
Cash and equity compensation is competitive, Pick said.
He ruled out an acquisition, saying that one of the company's value propositions for customers is that it is an honest broker in IT procurement and management. If the company were to be bought by, say, a company like Oracle, it would be unable to retain its independence.
In a recent interview, Apptio Chief Executive Sunny Gupta suggested that the company would eventually go public. Pick said that the company has no immediate plans to issue an IPO, but did not rule it out.
Job candidates can distinguish themselves to hiring managers at Apptio by demonstrating an intense focus on pleasing customers and continuous learning and improvement, Pick said.
Write to Joseph Walker at Joseph.Walker@dowjones.com