US-based contract management SaaS firm Icertis is set to secure $50 million in a new funding round, as per a Form D filing with the US Securities and Exchange Commission (SEC). The filing, however, does not disclose the names of the investors.
Last year, an Economic Times (ET) report suggested that SoftBank was in talks to invest in Icertis’ new funding round, which could total $150 million upon completion.
This latest round comes after Icertis raised $150 million in October 2022, comprising a revolving credit facility and convertible financing from Silicon Valley Bank.
Founded in 2009, Icertis provides AI-powered contract lifecycle management (CLM) software, helping enterprises improve risk management, compliance, and operational efficiency across departments like finance, legal, procurement, and sales.
Icertis achieved unicorn status in July 2019 after securing $119 million in its Series E funding led by Premji Invest. The company was last valued at approximately $5 billion.
In India, where Icertis is headquartered in Pune, its financials reflect steady growth. The company’s Indian entity reported a 33% increase in operating revenue, rising to ₹863 crore in FY24 from ₹649 crore in FY23. Additionally, profits grew to ₹97 crore in FY24 from ₹71 crore in the previous fiscal year.
With strong financials and AI-driven innovations in contract management, Icertis continues to strengthen its market position while attracting fresh investments.
