SaaS Firm Icertis raises $80 Million; Valuation Jumps to $2.8 Billion
SaaS unicorn Icertis has raised $80 million in a Series F funding round that has nearly tripled the firm’s valuation to $2.8 billion. Led by existing investors B capital, the round also saw participation from Greycroft, Meritech Capital Partners, Premji Invest, and PSP Growth.
The firm has so far raised a total capital of $280 million. The last round that was held two years ago valued Icertisclose to $1 billion.
Founded in 2009 by Samir Bodas and Monish Darda, Icertisis a contract management solutions Software-as-a-Service (SaaS) company. Based in Bellevue, Washington, the firm provides cloud-based contract management software to enterprise businesses. Its firm’s diversified clientele includes Apple, Daimler, Microsoft, and chemical company BASF among various others.
Icertis was the first company to grasp the truly transformative potential of Contract Lifecycle Management (CLM) and has since pursued the vision of organization-wide contract intelligence for more than a decade.CLM is one of the fastest-growing enterprise software categories and is being increasingly recognized as a universal and critical asset for businesses.
“It is immensely satisfying to have led the transformation of CLM from a ‘nice-to-have to a ‘critical-to-have’ software category,” says, Samir Bodas, CEO & Co-Founder, Icertis.
The latest infusion of capital will be used by Icertisfor AI and blockchain development, product development, expansion of sales and marketing footprint, and building its global partner network.
"The company also plans to increase its total workforce by 30-40%, with the majority of the hiring taking place in India," says Samir.
“Icertis has built a mission-critical contract intelligence platform that allows organizations to digitize contracts and generate business insights from contracts using AI. The world’s largest corporations, across industries, trust Icertis to generate value from their contracts,” said KabirNarang, Founding General Partner, B Capital Group. “At B Capital, we look to back leading enterprise software companies which are digitizing traditional analog workflows enabling collaboration and generating value for businesses," he further added.
The firm has so far raised a total capital of $280 million. The last round that was held two years ago valued Icertisclose to $1 billion.
Founded in 2009 by Samir Bodas and Monish Darda, Icertisis a contract management solutions Software-as-a-Service (SaaS) company. Based in Bellevue, Washington, the firm provides cloud-based contract management software to enterprise businesses. Its firm’s diversified clientele includes Apple, Daimler, Microsoft, and chemical company BASF among various others.
Icertis was the first company to grasp the truly transformative potential of Contract Lifecycle Management (CLM) and has since pursued the vision of organization-wide contract intelligence for more than a decade.CLM is one of the fastest-growing enterprise software categories and is being increasingly recognized as a universal and critical asset for businesses.
“It is immensely satisfying to have led the transformation of CLM from a ‘nice-to-have to a ‘critical-to-have’ software category,” says, Samir Bodas, CEO & Co-Founder, Icertis.
The latest infusion of capital will be used by Icertisfor AI and blockchain development, product development, expansion of sales and marketing footprint, and building its global partner network.
"The company also plans to increase its total workforce by 30-40%, with the majority of the hiring taking place in India," says Samir.
“Icertis has built a mission-critical contract intelligence platform that allows organizations to digitize contracts and generate business insights from contracts using AI. The world’s largest corporations, across industries, trust Icertis to generate value from their contracts,” said KabirNarang, Founding General Partner, B Capital Group. “At B Capital, we look to back leading enterprise software companies which are digitizing traditional analog workflows enabling collaboration and generating value for businesses," he further added.
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