Thoma Bravo backs middle office platform Apttus

Apttus, which provides onboarding-to-payment for financial services, has landed an investment from Thoma Bravo.

The private equity firm has agreed to acquire a majority stake in the Silicon Valley-based company, with the deal expected to close in early October. Concurrent with the closing, David Murphy, the former president and COO of Blue Coat Systems and a current Thoma Bravo operating partner, will join Apttus’ Office of the CEO as executive chairman.

Apttus’ solutions automate, optimise and apply artificial intelligence to a set of business processes, such as generating revenue and managing key commercial relationships. Its quote-to-cash, contract lifecycle management, regulatory compliance and other Middle Office solutions are using by hundreds of the Global 2000.

“Apttus has created an entirely automated Quote-to-Cash software solution and is the only end-to-end platform provider in the highly strategic Middle Office market,” said Holden Spaht, a managing partner at Thoma Bravo. “Apttus’ platform is the commercial backbone for many of the largest companies in the world and we look forward to taking incremental strides in delivering the best possible customer experience.”

The company provides its solutions to a range of industries including financial services, energy, communications, life science, manufacturing and healthcare, among others.

In the financial services space, Apttus claims its solutions reduce risk while increasing revenue by optimising client lifecycle. Its intelligent contract management solution automates regulatory compliance needs, including contract negotiation, repapering, amendments and renewals, significantly reducing effort needed for Brexit and Dodd Frank compliance.

It also improves client onboarding and create a searchable repository for KYC, AML and other needs. Apttus can also productise services such as research to adhere to MIFID II rules.

“Apttus was founded to help enterprises manage revenue and commercial relationships, and passionately delivering that value to our customers has made us the de facto selection and industry gold standard for large enterprises,” said Neehar Giri, Apttus co-founder, president and chief solutions architect. “Apttus’ innovation is directly responsible for the creation and advancement of the Middle Office, holistically addressing the space between CRM and ERP for hundreds of customers.”

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