SEATTLE — Bellevue-based Apptio has made agreements with several banks to prepare for an initial public offering, according to a report in The Wall Street Journal.
Apptio, which develops cloud-based software that helps companies manage their information-technology services and costs, has partnered with Goldman Sachs, JPMorgan Chase and Bank of America, the Journal reported, citing people familiar with the deal. Sources said the IPO could value the company at $1 billion.
Furthering the evidence that the company is preparing for an IPO, Apptio is advertising a job opening for a director of technical accounting and financial reporting that requires previous experience “at a publicly traded company with responsibility for external reporting.”
Apptio was founded in 2007 and has raised about $136 million.
Apptio has more than 600 employees and more than 200 customers.
