K1 Exits Apttus, Realizes Enterprise Value Growth Over $1 Billion

Since 2013 Series A investment by K1, Apttus revenues grew more than 5x

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Oct 03, 2018, 11:22 ET

LOS ANGELES, Oct. 3, 2018 /PRNewswire/ -- K1 Investment Management, a leading private equity firm exclusively focused on enterprise software, today announced a successful exit from its investment in Apttus, as Thoma Bravo acquired a majority interest in the company. K1 was the first institutional investor in Apttus and led its Series A investment in September 2013. During Apttus' five-year partnership with K1, the company's revenue grew more than five-fold and its enterprise valuation grew by over $1 billion.

Apttus' solutions 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 market-leading quote-to-cash, contract lifecycle management, and other middle office solutions. Its customer base includes hundreds of the Global 1000 and is expanding rapidly as enterprises of all sizes recognize the importance of middle office solutions for driving growth and success.

Since 2013, K1 supported management's efforts to scale up the company's recruiting and training processes, sales team, product development and financial reporting. "The K1 team helped us better understand our business. The valuable insight they provided enabled us to make critical decisions. K1 was responsible for introducing us to two of our top five customers," said Kent Perkocha, co-founder and chief customer officer of Apttus. Representative customers include: ABB, Adobe, DocuSign, FIS, Hewlett Packard Enterprise, Lenovo, LinkedIn, PayPal, Thomson Reuters and Twilio.

"The leadership, steady and expert guidance and unwavering support that K1 provided were invaluable during our partnership," added Neehar Giri, co-founder and president of Apttus.

"The K1 team is excited to announce the realization of its investment in Apttus. We are grateful to have been a part of Apttus' journey during an exciting series of accomplishments: recognition by Gartner's Magic Quadrant and Forrester's Wave as the leader in quote-to-cash and contract lifecycle management solutions, global expansion to serve the company's enterprise clients and accelerated development of cross-platform architectures," said Neil Malik, founder and chief executive officer of K1. "It has been a pleasure working with Neehar and Kent and we are very proud of the broader Apttus team. We wish the company, employees and clients continued success."

About K1 Investment Management
K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1's investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Checkmarx, Chirotouch, Granicus, IronScales, Litera MicroSystems, RFPIO, Smarsh, Workforce Software and Zapproved. For more information about K1, please visit www.k1capital.com or follow us on https://www.linkedin.com/company/k1im.

SOURCE K1 Investment Management