Apttus, a U.S. software firm backed by Salesforce's venture arm and some of Silicon Valley's biggest entrepreneurs, is planning to go public this year, the company's chief executive told CNBC.
The Silicon Valley start-up sells so-called "quote-to-cash" software which provides salespeople with the ability to create an offer, develop a quote and contract, then collect the cash from customers.
Apttus raised $88 million in September from investors including Gulf Islamic Investments, K1, KIA, and Iconiq Capital, a highly secretive wealth management firm that manages investments for the likes of Facebook boss Mark Zuckerberg, LinkedIn founder Reid Hoffman and Twitter CEO Jack Dorsey. Salesforce Ventures is also an investor.
Now Kirk Krappe, CEO of Apttus, said the company is on track for an initial public offering (IPO) the first half of this year.
"We have done our internal assessment, we have hired an outside company, we have an exact plan of everything we need to put in place. We have probably done fifty to sixty percent of the preparation already … we need to expand the board of directors which is a common thing you need to do before you go public. We need to hire some critical senior management team like a general counsel for instance on board," Krappe told CNBC in an interview on Tuesday.