Founded in 2009 by Monish Darda and Samir Bodas, Icertis offers enterprise contract management solutions to companies across the globe. Icertis said it’s Icertis Contract Intelligence (ICI) helps businesses structure commercial, legal and operational data within contracts.
SaaS unicorn Icertis has raised $150 Mn from the US-based Silicon Valley Bank (SVB). The $150 Mn funding is reportedly bifurcated into $75 Mn as convertible debt and the remaining $75 Mn as a revolving credit facility. Adding the latest funding, the startup has raised a total of $520 Mn. The development comes five days after Icertis secured a $75 Mn debt funding round.
Founded in 2009 by Monish Darda and Samir Bodas, Icertis offers enterprise contract management solutions to companies across the globe. Icertis said it’s Icertis Contract Intelligence (ICI) helps businesses structure commercial, legal and operational data within contracts. These contracts are later shared within the companies for procurement, ERP, HCM, and CRM systems, in turn, helping organizations trim expenses, manage risk better, increase revenue and ensure compliance.
“We are thrilled to work with Icertis and support its continued growth as a contract intelligence platform. Contracts are the foundation of commerce, sitting at the intersection of almost all business processes. Understanding and harnessing the underlying data can drive material business impact to a wide range of enterprises,” said Bob Blee, head of U.S. Technology Corporate Banking at Silicon Valley Bank.
