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PremjiInvest, the investment arm of Wipro Chairman Azim Premji has invested $55 million in Apttus.
This is a Series E round of funding received by the California-based company that has developed a quote-to-cash software system for enterprises – large or small.
Existing investors, apart from PremjiInvest include tech major Salesforce, K1 and Iconiq, according to sources.
Former Wipro CEO TK Kurien was appointed as the Managing Partner and Chief Investment Officer at PremjiInvest in January this year. This is the first investment since he has taken charge.
PremjiInvest, which is a private equity firm that funds later stage ventures, does not make its information public but according to reports, the firm has made investments in LensKart, Amagi Media Labs, Snapdeal, Aditya Birla Capital, amongst others.
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