Bengaluru: Icertis Inc., a firm that makes software for companies to create and manage contracts, enabling them to shorten sales cycles and optimise costs, said it has raised $15 million in a series B funding round led by Ignition Partners, with participation from Eight Roads Ventures (formerly Fidelity Growth Partners).
The news was first reported by the Economic Times.
The firm, which earlier raised $6 million, plans to use the funds to expand global operations and invest in marketing.
Headquartered in Seattle, it has offices in Pune and Mumbai in India.
“Icertis has grown rapidly since our investment last year and has scaled up its capabilities across the entire contract life-cycle. The company has some of the best business metrics across enterprise SaaS companies that we have evaluated. We are excited to strengthen our partnership with Icertis and its exceptional management team as the company embarks on its next phase of growth,” said Kabir Narang, Partner at Eight Roads Ventures, in a statement.
Icertis has customers like Cognizant, HBO, Microsoft, and Skullcandy. The company claims their platform is used by more than 500,000 professionals across legal, procurement, finance and sales departments to manage 2 million contracts in about 40 languages.
“Business leaders are rapidly recognizing that contract management is a company-wide strategic business process more so than a transactional departmental activity, and they are looking for a holistic platform like ICM to address their needs,” said Samir Bodas, chief executive officer, Icertis, in the statement.