With contract lifecycle management Icertis now has unmatched technology. The most recognizable brands and disruptive entrepreneurs in the world today rely on Icertis to oversee the rights and obligations in their 10 million+ contracts totaling more than $1 trillion, in more than 40 languages, and in more than 90 countries.
Icertis has now announced funding of an $80 million Series F round which could be estimated as three times the valuation of the last round as well as the company is strengthening its directors and has added two new leaders Penny Pritzker and Karyn Smith. Icertis has now raised over $280 million. B Capital Group, an existing investor, served as the round’s lead investor.
Fundings Related To Icertis
The company will put this money to use by advancing the development of AI and Blockchain, growing its sales and marketing reach, and developing its global partner network. Icertis also expanded its Board of Directors with two eminent business leaders.
About the Company
Icertis, under the direction of CEO and Co-Founder Samir Bodas, offers a contract lifecycle management (CLM) platform powered by AI that transforms contracts from static documents into competitive advantages by organizing and connecting the vital contract data that determines how an organization functions.
The Icertis Contract Intelligence (ICI) platform digitizes the contracting process, extracts the crucial structured and unstructured data present in contracts, connects this data to operational support systems, and makes use of artificial intelligence to make sure each contract’s intent is fully realized.
The Aim And Planning Of Icertis
Despite challenges from COVID-19, Icertis is growing quickly, demonstrating the critical importance of contracts as the only source of truth for ALL of a company’s commercial, operational, and legal entitlements and obligations and the emergence of CLM as a “must have” system of intelligence for CxOs. Icertis is the market leader in this sector because of its Icertis Contract Intelligence (ICI) platform, which digitizes the contracting process, extracts crucial structured and unstructured data from contracts in a unique way, links this data to operational support systems, and uses artificial intelligence to make sure each contract’s intent is fully realized. “Icertis has developed a mission-critical contract intelligence platform that enables businesses to digitally transform contracts and extract business insights from them using artificial intelligence.
Everything About CLM
One of the fastest-growing areas of corporate software is CLM, which is becoming more widely acknowledged as a crucial tool for companies of all sizes operating in all sectors and regions. The category has grown dramatically, with an addressable market of over $20B* and a growth rate of more than 35% annually. Icertis is the unchallenged leader of this enormous, developing corporate SaaS industry as a result of its audacious vision and track record of success.
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