March, 27

Icertis- Landed $80M fund, Remains Leader in CLM

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Contract lifecycle management firm Icertis has landed an $80M fund in series F led by the leading investor ‘B Group capital’. The goal is to be the best contract intelligence platform in the world

Today, we are excited to share that Icertis has landed an $80 million fund in Series F. which was led by B Capital Group and included six participating members. Before we dive into the funding details, let me share a brief description of the investing members.

First, A venture capital firm called “B Capital Group” is an investment firm that supports global entrepreneurs in their journey of growth in the field of information and technology. Based in Manhatten beach, California united states. The company has made 169 investments till June 27, 2022. Its most notable branches include Bird, Reality, AI, and Silvercloud health as per Icertis 80m series greycroftsopergeekwire.

According to BuiltWith, the company actively employs approximately 35 technologies on its website. Google Analytics, viewport meta, and iPhone/mobile compatibility are all included. 

Isn’t it wonderful to have the backing of such a fantastic investor? With the support and confidence of B Group Capital, the firm is looking forward to expanding its business globally to increase its footprint in sales and marketing. The firm will use this round of funding to accelerate its AI & blockchain developments. 

Key details – Icertis

  • Icertis elevated its valuation to $2.8 billion, which nearly tripled after the series F round of $80 million. Added two highly dignitary officials as independent directors.
  • Icertis‘ $80 million Series F round strengthens its position as the market leader in CLM. In recent research titled Forrester WaveTM: Icertis was also recognized as a leader.

Icertis has raised $80 million in its Series F, which has nearly tripled its valuation by $2.8 billion. The fund was led by B Capital Group and included other investors named – PSP growth, Premji Investments, Maritech Capital Partners, Headline, and Greycroft. The company has received $371 million in funding in eight rounds to date. A corporate round of funding was announced on January 25, 2022.

Additionally, Icertis also expanded its Board of Directors with two eminent business leaders. As the company’s business enlarges rapidly, the new independent Directors of PSP Partners and the former United States Secretary of Commerce under the Obama Administration, and Karyn Smith, Twilio Inc.’s general counsel, will bring decisive perspectives and virtuosity.

Next, CLM booms the enterprise software categories with a total available market of $20M. Despite the downturn caused by Covid-19, Icertis is experiencing accelerating growth because of its contact intelligence platform. It digitizes the contractual process & pull’s out the organized and unorganized data from contracts, affixing those data in action to make sure that each contract achieves its target by using AI technology.  extracts critical structured and unstructured data from contracts connects this data to operational surrounding systems and uses artificial intelligence to ensure that each contract’s goal is met.

Highlighting benefits of CLM(contract lifecycle management) software – 

  • Help reduce a company’s risk exposure by decreasing missed deadlines and enhancing adherence to rules.
  • Helps to accelerate, protect and optimize the business by executing it with tools like artificial intelligence and machine learning.
  • Helps to create contracts dynamically using clauses and templates.
  • Advanced use of CLM software enables you to create no-touch contacts such as CRM, sourcing, procurement, receiving input, and auto-creating contracts based on set business principles.

FORRESTER WAVE LEADER 2011, Report says that Icertis(AI-based contract intelligence platform) achieved the leader status on CLM. It has the highest score in both the strategy category and the current offering.

Samir Bodas the CEO & Co-founder – of Icertis says, “Icertis provides contract intelligence to the world’s most innovative and disruptive firms, and our businesses are proof that enterprise-wide, AI-powered contract intelligence produces great economic value.” This demonstrates our unwavering dedication to our consumers and to driving innovation to the better company in ways we could never have anticipated.”

About Icertis

Icertis is a private software enterprise that offers contract management software as a service to several organizations, founded in 2009. Its headquarter is in Bellevue, Washington. It offers service by transforming contracts from static papers into strategic advantages by organizing and connecting crucial information. Its mission is to be the world’s contract intelligence platform, with a vision to transform the foundation of commerce.

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