The Contract Management Software Company of Bellevue, ICERTIS has touched another milestone as it has announced the raising of $80M in the F series which was led by the B Capital Group. This round pushes its so far unicorn’s cost to $280M.
The total raising of Icertis has come up to $280M and the current financing of Icertis is almost triple the last year’s series E round.
As already mentioned above that this year-round was led by the existing capitalist the B Capital Group in association with Greycroft, PSPGrowth, Meritech Capital Partners, E. Ventures, and Premji Invest limited.
In addition, Icertis also included the chairman and founder of PSP Partners, Penny Pritzker, and Twilio Inc. general counsel Mr. Karyn Smith.
Icertis is a US company that deals with contract software management. It was founded in 2009 with its headquarters in Bellevue, Washington, United States. Its CEO is Mr. Todd Smith, Co-founder(CEO)- Samir Bodas, founder(Co-CTO)- Monish Darda. It provides software to enterprise businesses using the software as a service representative.
Icertis has decided to invest its total funding in the following activities-
- To Invest in stabilizing its AI and Blockchain Development.
- Expanding its presence in sales and marketing.
- Global partner network building for solidifying new partnerships.
An AI-powered contract lifecycle management provided by Icertis helps in contracting the static documents into the planned advantage by organizing and linking the critical contract information that defines how a company runs, led by the CEO and co-founder of Icertis, Samir Bodas. He also added, it is highly gratifying to have led the modification of contract lifecycle management(CLM) to a critical-to-have software category from a nice-to-have one.
The Icertis Contract Intelligence(ICL) platform
- Helps in digitizing the process of contracting.
- It extracts the critical data that is found in the contracts which is structured and unstructured.
- Connects this data to the operational system.
- Grasp AI to ensure the purpose of every contract is completely realized.
Icertis is planning to bring its technology to Southeast Asia, Europe, and Japan.
Icertis, in today’s world of rivalry, is trusted by the top most reputed brands of the world and the world’s most accomplished innovators to govern the rights and dedications in more than 10 million of their contracts with more than $1 trillion worth in 90 plus countries and 40 plus languages.
Samir Bodas in a statement said that as a lawyer and corporate officer, he had the chance to help guide many corporations through fast growth and worldwide expansion along with managing the threat and adherence. He added that he knew first-hand how digitally modifying contracting can benefit the companies.
- An American-based Venture Capital Firm, Greycroft was founded in 2006. Its founder is Alan Patricof. The headquarters is in New York, United States. It has raised its highest fund of $368 million in 2020 as growth III.
- A private equity firm situated in America, the Meritech Capital Partner focuses on the capital investment of late-stage ventures. It was founded in 1999 by Rob Ward. The company’s total assets are 260 crores USD. Its headquarters are in Palo Alto, California, United States. Their main focuses are software and service, medical devices, internet and media, and consumer internet and media.
- Wipro chairman, Azim Premji’s family office, Premji Invest Limited specializes in private equity and in the investment of venture capital. It is located in India’s Banglore city of Karnataka which was founded in 2006. The portfolio companies under it are as follows Policybazaar, Lenskart, ServiceMax, Iora Health, etc.
- The E. venture now known as The Headline is an international venture funding firm, founded by Jan Henric Buettner in the year 1997. Its headquarters is in San Francisco, California, United States.
Icertis 80M Funding
The private contract management software company of America, Icertis has raised $80 million in its F series round after which it has come up with a total raising of $280 million and its unicorn status also hits $280m status. data taken by Icertis 80m series 280msopergeekwire.
This year’s funding is almost thrice as the previous year. The round was led by the existing capitalist the B capital groups along with other investors. The round was also joined by some new, influential and powerful members like the chairman and founder of PSP Partners, Penny Pritzker, and Twilio Inc. general counsel Mr. Karyn Smith. The main aim is to digitalize the whole process of contracting through the use of AI.
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FAQs
The B capital group.
$280M
It is a private software company which provides contract management software to the businesses enterprises.
Yes, it is owned by Azim Premji of Banglore, India.
to digitize the contracting process of software management.
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