Funding · Enterprise Software & IT
Icertis raises $75m in series F funding
By Startup Enthusiast ·
- Date
- Company
- Icertis
- What it does
- Contract lifecycle management software
- Kind
- Funding
- Amount
- $75M
- Stage
- series F
- Based in
- Bellevue
- Founded
- 2009
- Sector
- Enterprise Software & IT
What they do
Icertis provides cloud-based contract lifecycle management software for enterprises
What happened
The company raised $75 million in a series F round led by new investors
Why it matters
The funding will be used to expand its AI capabilities and global reach; icertis has raised over $500 million to date and serves 6,000+ customers
The details
- Icertis, a contract lifecycle management (CLM) platform, has raised $75 million in a Series F funding round.
- The round was led by new investors including B Capital Group and PSP Investments.
- Existing investors Greenspring Associates, Meritech Capital, and Eight Roads Ventures also participated.
- The company plans to use the funds to expand its AI capabilities and enter new markets.
- Icertis will also invest in product development and global sales.
- The funding comes as the company reports strong growth in its CLM business.
- Icertis has now raised over $500 million in total funding.
The bigger picture
- The CLM market is growing rapidly as enterprises digitise their contract processes.
- Icertis competes with DocuSign, Coupa, and SAP in the contract management space.
- The company has 6,000+ customers including Microsoft, Johnson & Johnson, and Airbus.
- Icertis was founded in 2009 and is headquartered in Bellevue, Washington.
About the business
- Icertis offers a cloud-based contract lifecycle management platform.
- The platform helps enterprises create, manage, and analyse contracts.
- It uses AI and machine learning to extract insights from contract data.
- The company serves 6,000+ customers across 90+ countries.
- Icertis generates revenue through subscription fees for its software.
- Key customers include Microsoft, Johnson & Johnson, and Airbus.
What happens next
- Icertis will use the funds to expand its AI capabilities and enter new markets.
- The company will also invest in product development and global sales.
The deal
- Type
- funding
Investors
- B Capital Group (lead) — A global venture capital firm investing in technology companies.
- PSP Investments (lead) — A Canadian pension fund manager that invests in private equity and venture capital.
- Greenspring Associates (existing) — A venture capital firm focused on enterprise software.
- Meritech Capital (existing) — A growth equity firm investing in enterprise technology.
- Eight Roads Ventures (existing) — A global venture capital firm backed by Fidelity.
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