Apttus valued at more than $1.3 billion, eyes IPO next

Apttus raised a new funding round of $88 million at a valuation “significantly north of $1.3 billion,” the last investment planned before an initial public offering, the company’s chief executive told MarketWatch.

With this round, the company—a so-called quote-to-cash firm that helps businesses configure price quotes and contracts—will have raised a total of $274 million, CEO Kirk Krappe said. The money, which is an “up round” from the company’s previous valuation of $1 billion, will go toward Max, the company’s “intelligent agent,” which responds to voice commands and text to complete tasks, as well as other machine learning developments.

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