Icertis, a US-based contract management software company, is set to raise $50 million in a new funding round, as per a filing with the US Securities and Exchange Commission (SEC). The company has not disclosed the names of the investors. Founded in 2009, Icertis provides AI-driven contract lifecycle management solutions to enhance compliance, reduce risk, and improve efficiency.
Headquartered in Washington, with an office in Pune, it has worked with major global clients. Icertis was last valued at around $5 billion and has raised significant funding over the years to drive its growth and innovation in contract management.
What is Icertis?
Icertis is a US-based contract lifecycle management (CLM) software company that provides AI-powered solutions to help businesses manage contracts efficiently. Founded in 2009 by Samir Bodas and Monish Darda, the company is headquartered in Bellevue, Washington, with an office in Pune, India, and operations across multiple regions.
Its flagship product, Icertis Contract Intelligence (ICI), is a cloud-based SaaS platform that helps organizations digitize, manage, and analyze contracts to improve compliance, reduce risk, and enhance operational efficiency. Icertis works with 30% of Fortune 100 companies and has served clients in over 90 countries.
The company became a unicorn in 2019 after raising $119 million and has since continued to grow, raising over $522 million from investors such as Premji Invest, B Capital, and Silicon Valley Bank. As of its last valuation, Icertis was worth around $5 billion. Its Indian entity reported Rs 863 crore revenue in FY24, marking a 33% growth from the previous year.
With AI-driven contract management, Icertis helps enterprises across finance, legal, procurement, and sales streamline operations and drive better business outcomes.
Why is This Funding Significant?
This $50 million funding round is significant because it reflects Icertis’ continued growth and strategic expansion in the contract lifecycle management (CLM) space. The company was last valued at around $5 billion and has already raised over $522 million from prominent investors like Premji Invest, B Capital, and Silicon Valley Bank.
This fresh capital injection comes nearly three years after its last major funding round, indicating that Icertis is securing resources to enhance its AI-driven solutions, expand its global footprint, and strengthen its market position.
The investment highlights the growing importance of contract intelligence software, as businesses increasingly rely on AI-powered tools to improve compliance, mitigate risks, and drive efficiency. With 30% of Fortune 100 companies using Icertis’ platform, this funding is expected to fuel further innovation and product development.
It also underscores investor confidence in Icertis’ long-term growth potential and leadership in the SaaS industry.
How Will the Funds Be Used?
Icertis is likely to use the $50 million funding to further strengthen its AI-powered contract lifecycle management (CLM) solutions and expand its global reach. The company may invest in product innovation, enhancing its Icertis Contract Intelligence (ICI) platform with advanced AI and automation capabilities to help businesses manage contracts more efficiently.
Additionally, a portion of the funds could be used to scale operations, particularly in key markets like the US, India, and Europe, where demand for AI-driven contract management is growing. Icertis may also allocate resources to hiring top talent, expanding its sales and customer support teams, and forming strategic partnerships to enhance its enterprise offerings.
Since the company works with 30% of Fortune 100 companies, improving data security, compliance, and risk management features will likely be a priority. Overall, this funding will support Icertis in staying ahead of the competition, driving sustained growth, and reinforcing its position as a global leader in contract intelligence software.
Founders’ Perspective
Icertis co-founders Samir Bodas (CEO) and Monish Darda (CTO) have built the company with a vision to transform contract lifecycle management (CLM) through cutting-edge technology. Samir Bodas, with over two decades of leadership experience, has been instrumental in steering Icertis to unicorn status.
Their focus remains on continuous innovation, expanding AI capabilities, and driving long-term business impact through smarter contract management.
Key Takeaways
- Fresh Capital Injection – Icertis is raising $50 million in a new funding round, signalling continued growth and investor confidence.
- Strengthening AI-Powered Solutions – The funds will likely be used to enhance AI-driven contract intelligence, improving compliance, risk management, and efficiency for global enterprises.
- Global Expansion Plans – With headquarters in the US and Pune, India, Icertis aims to expand operations and strengthen its presence in key markets across North America, Europe, and Asia.
- Proven Market Leadership – The company works with 30% of Fortune 100 companies, demonstrating its dominance in the contract lifecycle management (CLM) space.
- Valuation and Growth – Icertis was last valued at around $5 billion, and its Indian entity reported a 33% revenue growth in FY24, highlighting strong financial performance.
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Conclusion
Icertis’ latest funding round highlights its continued growth, strong market position, and investor confidence in its AI-driven contract management solutions. With a valuation of around $5 billion and a 33% revenue growth in its Indian entity, the company is on a strong upward trajectory.
The fresh capital will likely fuel product innovation, global expansion, and deeper AI integration into its contract intelligence platform. As Icertis continues to work with top global enterprises, its focus remains on enhancing compliance, mitigating risk, and driving operational efficiency. With a clear vision, Icertis is well-positioned for long-term success in the SaaS industry.
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