Enterprise SaaS firm Icertis raises $50 mn from Meritech Capital and others - Times of India
Summary
Prior to this round, Icertis had raised aboutmillion.The company plans to use the new funds to further its investment in risk management, enterprise compliance and commercial optimisation capabilities through artificial intelligence. Icertis also plans to expand the company’s operations in North America, EMEA (Europe, the Middle East, and Africa) and Asia-Pacific and acquire technologies that can address emerging needs.Icertis contract management software enables enterprises to increase compliance, improve governance, mitigate risk and enhance user productivity. We will also add offices across three locations in Europe, in APAC--Australia, NZ," said company founder and CEO Samir Bodas. The company has its core engineering team based in Pune while US has other major part of its 500-strong workforce.Some of the companies Icertis works with include BASF, Best Buy , Humana, Kansas City Southern, Lufthansa AirPlus, Sanofi, US Foods, Wipro and WWT.“Icertis has achieved a massive worldwide footprint in the contract life-cycle management category with iconic brand names, while also being incredibly capital efficient. We see a huge opportunity for them to become the next great global technology company,” said Paul Madera , co-founder and MD, Meritech Capital Partners.
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