Icertis Secures $50 Million in Series D Funding
Icertis, a leading provider of enterprise contract management in the cloud, today announced $50 million in Series D funding, led by Meritech Capital Partners, with participation from PSP Growth and Cross Creek Advisors. All existing investors – B Capital Group, Ignition Partners, Greycroft and Eight Roads Ventures – also invested in the round.
Since its Series C funding in March of last year, Icertis has signed customers including BASF, Kansas City Southern, Lufthansa AirPlus, Sanofi, and Wipro, while simultaneously deepening its relationships with existing customers like 3M, AbbVie, Airtel, Daimler and Microsoft. According to the company, Icertis has doubled its revenues year-over-year, opened five new offices worldwide, was recognized as a contract management category leader by Forrester and named a top employer in Washington State by Seattle Business Magazine.
With the new funds, Icertis plans to accelerate investment in the Icertis contract management platform’s risk management, compliance, and revenue optimization capabilities, which are driven by artificial intelligence. Icertis also plans to expand the company’s geographical footprint in North America, EMEA, and Asia Pacific, and opportunistically to acquire cutting-edge technologies that address the company’s emerging needs.