History edit
Icertis was co-founded in 2009 by Samir Bodas, former CEO of Aztecsoft, and Monish Darda, a former executive at BladeLogic.[1][2]
The company raised a round of seed funding in 2012.[1][3] At the time, it was doing business in India, offering its contract management software to ICICI Bank and its public transportation management software to Prasanna Purple Mobility Solutions.[4][5]
In 2015, Icertis raised $6 million in its Series A round of funding, which was led by Greycroft Partners and Fidelity Growth Partners India.[1][3] By this point, the company's services were being used by large multinational companies such as Microsoft, Roche, and Hyundai.[1][3] The company's Series B funding took place in 2016 and was led by Ignition Partners.[6][7] Bodas announced that the $15 million Icertis raised would go toward opening new offices, in addition to the ones Icertis already had in the U.S., India, and Switzerland.[6][7] The company also planned to increase its marketing in Europe and further develop Icertis Contract Management.[6][7]
Icertis' Series C funding round closed in 2017, raising $25 million.[8][9] A significant portion of the funds went toward hiring new staff, with Icertis nearly doubling its total number of employees between March 2017 and June 2018.[8][9] In 2018, Icertis secured $50 million with its Series D round of funding.[9] The money was put toward further expansion of the company and the refinement of its software's AI capabilities.[10][11]
Its Series E funding round, which closed in 2019, raised $115 million and pushed the company's valuation past $1 billion.[12] At the time, Icertis' software had around two million users and was being used to manage approximately 5.7 million contracts at companies such as Google and Airbus.[12]
- ^ a b c d Verma, Anuradha (April 28, 2015). "Cloud-based enterprise software startup Icertis secures $6M from Greycroft, Fidelity". Techcircle. Retrieved January 5, 2022.
- ^ Soper, Taylor (March 11, 2021). "Seattle-area startup Icertis now valued at $2.8 billion after fresh $80M round". GeekWire. Retrieved January 5, 2022.
- ^ a b c Cook, John (April 28, 2015). "Ex-Microsoft manager raises $6M for cloud startup Icertis". GeekWire. Retrieved January 5, 2022.
- ^ "ICICI Bank adopts Icertis Contract Lifecycle Management Product on Windows Azure". Express Computer. May 7, 2012. Retrieved January 5, 2022.
- ^ "Icertis, Prasanna Purple Mobility tie-up to revolutionize public transport management". DataQuest. January 13, 2013. Retrieved January 5, 2022.
- ^ a b c Shu, Catherine (March 10, 2016). "Contract management software maker Icertis raises $15M Series B". TechCrunch. Retrieved January 5, 2022.
- ^ a b c Day, Matt (March 10, 2016). "Bellevue software-maker Icertis pulls in $15 million in funding". Seattle Times. Retrieved January 5, 2022.
- ^ a b Cook, John (March 25, 2017). "Cloud-based enterprise contract management company Icertis scores $25M". GeekWire. Retrieved January 5, 2022.
- ^ a b c Lerman, Rachel (June 12, 2018). "Bellevue tech company Icertis pulls in $50 million". Seattle Times. Retrieved January 5, 2022.
- ^ Lazarus, Sydney (February 14, 2018). "Icertis Raises $50 Million in Series D Round, Plans to Invest in AI Capabilities and Global Expansion". Spend Matters. Retrieved January 5, 2022.
- ^ Grayson, Katharine (February 26, 2018). "After raising $50M, Seattle-area startup Icertis plans Twin Cities office". Twin Cities Business Journal. Retrieved January 5, 2022.
- ^ a b Levy, Nat (June 17, 2019). "Contract management startup Icertis hits $1B valuation with massive $115M funding round". GeekWire. Retrieved January 5, 2022.