Icertis raises Rs 100 Crore in Series B led by IP



Icertis - Applied CloudComfort is what making our world more compact, reachable and global. At every level and every step technology is serving us more personally. Similarly Contract Management Platform Icertis is simplifying cooperate life since 2009. It is headquartered in Bellevue, Washington with R&D in Pune, India with 100 researchers working currently.

In Series B funding round Icertis raised Rs 100 crore led by Ignition Partners along with existing investors Greycroft Partners and Fidelity Growth Partners India. In Series A held in April 2015 the company raised Rs 38 crore from Greycroft and Fidelity Growth Partners India.

“Investors are tightening their purse strings and focusing solely on startups with stellar customers, strong revenue and predictable long-term growth,” said John Connors; who will be joining board of Icertis and is currently positioned as MD at Ignition Partners. Connors has earlier been the CFO and CIO at Microsoft.

icertis sample
A sample of a contract by Icertis which is minutely detailed w.r.t. the requirements.

“Icertis is the leading enterprise contract management platform in the cloud. The company’s flagship product, Icertis Contract Management, manages sell-side, buy-side and corporate enterprise contracts across the globe by leveraging the power of the cloud. Icertis Contract Management has an inspired easy-to-use user interface, is quick to deploy, and integrates with all leading ERP and CRM solutions in the market. The award-winning and analyst-acknowledged product accelerates contracting velocity and ensures effective management of risk and compliance across the order-to-cash and procure-to-pay processes.”, said Co-founder and CEO Samir Bodas.

The company aims to strengthen the global presence, marketing spends and its position in the market with the raised funds. The company will be expanding to London, Chicago, New Jersey, Atlanta, Singapore and Australia over the period of next 12 months.

icertis data
Complete overview of the contract is accessible anytime anywhere in the world.

Company is currently serving  Airtel, Microsoft, Abbvie, Genpact etc. The company is providing contract solutions which are total headache for any organisation. The source isn’t just reliable but it is more risk free and accessible due to cloud platform. Icertis  has witnessed four times revenue in last year and wishes to double it in 2016. The entirely different approach is what making this company stand out of the crowd and the increment in customers is supporting the cause.