K1 Investment Management, a private equity firm exclusively focused on enterprise software, exited its investment in Apttus, as Thoma Bravo acquired a majority interest in the company.
Apttus provides solutions that automate, optimize and apply artificial intelligence to the most important set of business processes for any enterprise: generating revenue and managing key commercial relationships.
The company provides quote-to-cash, contract lifecycle management, and other middle office solutions.
K1 was the first institutional investor in Apttus and led its Series A investment in September 2013. During its five-year partnership with K1, the company’s revenue grew more than five-fold and its enterprise valuation grew by over $1 billion. The firm supported management’s efforts to scale up recruiting and training processes, sales team, product development and financial reporting.
Its customer base now includes hundreds of the Global 1000 and is expanding rapidly. Representative customers include: ABB, Adobe, DocuSign, FIS, Hewlett Packard Enterprise, Lenovo, LinkedIn, PayPal, Thomson Reuters and Twilio.