Washington based startup that develops cloud-based software to help large companies manage contracts raised $115m of Series E funding (at more than a billion-dollar valuation to become the latest SaaS unicorn), led by Greycroft and PremjiInvest.
Icertis, which was founded originally in India, helps customers manage more than 5.7m contracts with an aggregate value of more than $1 trillion. In a statement, Mark Terbeek, a partner at Greycroft, said Icertis’ ability to win “a huge stable of blue-chip customers” was among the factors that attracted them to invest in the company. “Nothing is more foundational than contract management as every dollar in and every dollar out of a company is governed by a contract. As the CLM market takes off, we are thrilled to have Premji Invest join the Icertis family, Greycroft double down by co-leading this round, and all investors re-up their commitment as we execute on our mission to become the contract management platform of the world,” said Icertis’ co-founder and CEO Samir Bodas, in a statement.