Icertis

Icertis

Icertis

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Icertis is an American privately owned software company that provides contract management software to enterprise businesses using a software-as-a-service model.[1] The company, which was founded in 2009, is headquartered in Bellevue, Washington.[6]

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Operations

Icertis is headquartered in Bellevue, Washington.[7] The company has additional offices in North America, as well as in India and Europe.[7][1] Icertis is a privately owned, venture capital-funded company with minority stakes held by Softbank and SAP.[8][9] As of December 2021, it employed approximately 1,700 people.[5]

History

Icertis was co-founded in 2009 by Samir Bodas, former CEO of Aztecsoft, and Monish Darda, a former executive at BladeLogic.[10][6]

Technology

Icertis provides cloud-based software intended to digitize, organize, and centralize business contracts. The software is licensed to companies through a software-as-a-service model.[1][11][12]

The company's flagship product, Icertis Contract Intelligence, is a contract lifecycle management platform,[13] which allows a company to digitize and store all of its contracts in the cloud.[1][12] The platform utilizes artificial intelligence (AI) technology to identify problematic contract clauses and flag potential compliance issues.[14][12] Its machine learning capabilities can read contracts and offer insight.[15]

References

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    Dearton, Thomas Hector (March 11, 2021). "This Pune-based startup tripled its valuation in less than two years". Business Insider India. Retrieved January 5, 2022.
  2. [2]
    Zahn, Max; Serwer, Andy (March 11, 2021). "Contract management 'next big enterprise software category': Penny Pritzker". Yahoo Finance. Retrieved January 5, 2022.
  3. [3]
    Staff (May 5, 2012). "Icertis develops contract lifecycle management product for Microsoft". Business Standard. India. Retrieved 2 Dec 2019.
  4. [4]
    Bhalla, Kritti (September 1, 2021). "After Freshworks, Icertis is looking for an IPO for next year in the US". Business Insider India. Retrieved January 5, 2022.
  5. [5]
    Abhishek, Sahu (December 11, 2021). "This company gives its employees the option to choose their work preference". HRWorld. The Economic Times. Retrieved January 5, 2022.
  6. [6]
    Soper, Taylor (March 11, 2021). "Seattle-area startup Icertis now valued at $2.8 billion after fresh $80M round". GeekWire. Retrieved January 5, 2022.
  7. [7]
    Day, Matt (March 10, 2016). "Bellevue software-maker Icertis pulls in $15 million in funding". Seattle Times. Retrieved January 5, 2022.
  8. [8]
    Antony, Anto; Kalesh, Baiju (November 11, 2021). "SoftBank Nearing Icertis Stake Deal at $5 Billion Valuation". Bloomberg. Retrieved January 27, 2022.
  9. [9]
    Morris, J.P. (January 25, 2022). "SAP deepens partnership with Icertis, taking minority stake and committing to joint roadmap with the CLM specialist". Spend Matters. Retrieved January 27, 2022.
  10. [10]
    Verma, Anuradha (April 28, 2015). "Cloud-based enterprise software startup Icertis secures $6M from Greycroft, Fidelity". Techcircle. Retrieved January 5, 2022.
  11. [11]
    Merten, Paxtyn (October 21, 2019). "Cloud company expands Bellevue HQ amid hiring wave". Puget Sound Business Journal. Retrieved January 5, 2021.
  12. [12]
    Berthiaume, Dan (January 18, 2022). "Pacsun digitally transforms contract management". Chain Store Age. Retrieved January 5, 2021.
  13. [13]
    Raval, Abhishek (August 5, 2021). "KPIT solves pandemic related contractual complexities with CLM solution". Express Computer. Retrieved January 5, 2022.
  14. [14]
    Labbe, Mark (March 12, 2021). "Icertis raises $80M for AI-powered contract management". Tech Target. Retrieved January 5, 2021.
  15. [15]
    Levy, Nat (June 17, 2019). "Contract management startup Icertis hits $1B valuation with massive $115M funding round". GeekWire. Retrieved January 5, 2022.
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