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| Conga | |
| Formerly | Apttus |
| Company type | Privately held company |
| Industry | Enterprise software |
| Founded | 2006; 19 years ago (2006) |
| Founder | Neehar Giri, Kent Perkocha, Kirk Krappe |
| Headquarters | Broomfield, Colorado,United States |
| Services | Revenue management,contract management, ecommerce management |
| Owner | Thoma Bravo |
| Website | conga |
Conga is an Americanbusiness-to-businesssoftware provider specializing inbusiness process automation[1][2][3] andContract Lifecycle Management (CLM) tools.[4]
The company provides a unified, open platform titled the Conga Advantage Platform and what it calls “middle office” solutions, utilizingartificial intelligence to optimize various financial and commercial functions, such asquote-to-cash, revenue management, CPQ, Document Automation, ande-commerce management.[1][5] Apttus’ software was originally developed to leverage theSalesforcecustomer relationship management platform,[5] but it has since been integrated withMicrosoft Azure[6] andIBM Cloud[7] as well.
In May 2020, Apttus merged withcontract lifecycle management (CLM) specialistConga and took the name Conga.[8][9]
Apttus (the former name of Conga) was founded in 2006 by Kirk Krappe,[10][5] Neehar Giri, and Kent Perkocha.[11][12] The three co-founders reportedly developed the company from ideas written down on napkins in alaundry room.[13] Krappe served as the company's first CEO, with Giri as Chief Solutions Officer and Perkocha as Chief Customer Officer.[12]
The company wasbootstrapped and took no outside funding until 2013,[14] when it raised $37 million inSeries A financing from a group of investors including K1 Capital, ICONIQ, and Salesforce.[5] By the time of its 2018 buyout, Apttus had received a total of $404 million in investment capital[15] from five rounds of fundraising, which gave the company a valuation of approximately $1.3 billion, as of September 2016.[16]
Despite publicly discussing the likelihood of aninitial public offering in 2016,[10] the company never went public before being acquired by Thoma Bravo. The 2015 acquisition of Apttus rival SteelBrick by Salesforce, an early Apttus investor, was widely blamed for Apttus’ inability to complete an IPO or find a buyer at more favorable terms.[15][17][18] Thoma Bravo took a majority stake in Apttus in September 2018. The cost of the purchase was not revealed.[19]
In September 2018, private equity firmThoma Bravo purchased a majority stake in Apttus.[15] This resulted in significant turnover in the executive ranks, as Thoma Bravo installed a newCEO,CFO,Chief Legal Officer,Chief People Officer, Vice President of Finance, and Corporate Controller by the end of 2018.[12]
In May 2020, Apttus boughtcontract lifecycle management (CLM) specialistConga and adopted its name for trading.[8] The deal was valued at $715 million USD.[20]
In August 2021, Conga acquiredContract Wrangler, Further Expanding Its CLM Footprint.[21]