Icertis, a software-as-a-service (SaaS) unicorn backed by PremjiInvest, has raised $50 million (around Rs 431.8 crore) in a fresh funding round, according to its latest filing with the US Securities and Exchange Commission (SEC).
Icertis said it raised the capital from five investors but didn’t disclose their names.
Icertis, an enterprise contract lifecycle management firm, has secured fresh funding nearly three years after its last round. In the past, it had raised $150 million through a revolving credit facility and convertible financing from Silicon Valley Bank, comprising $75 million in convertible debt and a $75-million revolving credit facility.
Founded in 2009 by Samir Bodas and Monish Darda, Icertis is headquartered in Washington, US, with an office in Pune. The company claims that 30% of the Fortune 100 companies work with it and that it has served clients in over 90 countries.
With nearly 1,745 employees, Icertis provides AI-driven enterprise contract management software designed to enhance risk management, compliance, and operational efficiency across finance, legal, procurement, and sales teams. It claims to have managed over 10 million contracts to date.
Previously, Icertis raised $80 million in a Series F round in March 2021, which brought its valuation to $2.8 billion. Before that, it secured $115 million in a Series E round in July 2019. That round, led by PremjiInvest and US-based Greycroft Partners, propelled Icertis into the unicorn club.
