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Funding · Enterprise Software & IT

Icertis raises $75m in series F funding

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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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