Quote-to-Cash cloud software-as-a-service (SaaS) firm Apttus, Inc. has raised $108 million Series C in a round that included Iconiq Capital, K1 Capital, KIA and Salesforce Ventures.

According to reports the new round was raised on a valuation of more than $1 billion, giving the company unicorn status for the first time.

Founded in 2006, Apttus describes itself as a “category-defining Quote-to-Cash software company,” that drives business processes between the buyer’s interest in a purchase and the realization of revenue.

The company offers a variety of SaaS solutions that allow customers to rapidly and simply deploy enterprise class applications.

The platform’s functionality allows users to gain complete visibility and end-to-end management of your business function, with suites described by the company as being “out of the box” allowing for extremely rapid deployment.

In addition, configuration tools allow for fast and easy extensibility to enable users to begin using the applications immediately, but can change them as they learn more about what they need.

The involvement of Salesforce Ventures in the round isn’t surprising, as all of these solutions are delivered via the Salesforce1 cloud delivery infrastructure platform.

“Apttus has re-defined the Quote-to-Cash process and we believe they have developed the future of how organizations manage their entire revenue operation — a modern front office, in the cloud. We’re excited to be a critical component of the global transformation they deliver to customers of all sizes, across the globe,” Executive Director of Alternative Investments at KIA Farouq Bastaki said in a statement.

“Salesforce Ventures is committed to investing in enterprise startups who are delivering technology that allows companies to connect with their customers in entirely new ways,” Salesforce’s Executive Vice President of Corporate Development and Salesforce Ventures John Somorjai added. “Apttus’ acceleration is a testament to the growth potential and power of the Salesforce1 Platform, across all industries.”

Growing market

The quote-to-cash market that sees the integration and automated management of end-to-end business processes on the selling side of a company is definitely a growing market as firms discover there are better ways of integrating SaaS solutions to improve e-commerce management practices.

The integration of these solutions, including those provided by Apptus is also a testament to the ever growing variety of services provided by Salesforce’s platform; although better known for the customer relationship management (CRM) side the platform continues to provide a richer and more enhanced variety of options for its users.

Including the new round, Apttus has raised $186 million to-date.

The company said in would use the new funds to provide new business solutions and services to Apttus customers and prospects in fields such as manufacturing, life sciences, financial services and telecommunications.

A previous version of this post attributed the news to Apptus Technologies AB and not Apttus, Inc. We apologize for the error.

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