Contract management startup Icertis becomes unicorn with $115M new round
Icertis, a Washington-headquartered startup that develops cloud-based software to help large companies manage contracts, has raised $115 million at more than a billion-dollar valuation to become the latest SaaS unicorn as it looks to further expand its footprint across the globe.
The Series E round for the 10-year-old firm was led by Greycroft and PremjiInvest, and saw participation from existing investors B Capital Group, Cross Creek Advisors, Eight Roads, Ignition Partners, Meritech Capital Partners and PSP Growth. The startup, which also has offices in Seattle, Pune, Singapore, London, Paris and Sydney, has raised $211 million to date.
Icertis said it would use the fresh capital to expand its technology platform to address wider use cases. It said it would also expand its Blockchain framework that integrates with enterprise contract management platforms to solve challenges such as transparency in supply chain and certification compliance. Its revenue is at about $100 million currently — another key area it intends to scale.
The firm, which claims that five of the world’s most valuable companies are its clients