Icertis, a Bellevue-based enterprise contract management provider, secured $25 million in a recent round of Series C funding, which will help the company expand globally and accelerate research and development investments for its contract management platform.
The funding was led by B Capital Group with participation from current investors Ignition Partners, Greycroft in partnership with e.ventures, and Eight Roads Ventures. The added capital brings Icertis’ total funding to $46 million.
“In today’s hyper-competitive world, forward-thinking enterprises are rapidly recognizing the need to transform their commercial foundation with a true enterprise-wide contract management platform,” Icertis co-founder and CEO Samir Bodas said in a press release. “We are delighted to partner with B Capital as we execute on our mission to become the contract management platform of the world.”
Capital B co-founder and partner Raj Ganguly said Icertis’ rapid revenue growth and positive cash flow made it an enticing investment.
“Icertis is disrupting the $6 billion contract management market by turning contracts into strategic assets and enabling companies to find new sources of value while reducing risk,” Ganguly said in a press release. “At B Capital, we think there is a big opportunity to connect differentiated technology companies like Icertis to global market leaders.”
Following Icertis’ Series B funding in March of last year, additional clientele — like 3M and Damlier — have jumped on board. The company also expanded its cloud software executives, was recognized as a leader in its category by Gartner and Forrester, and named one of Glassdoor’s Top 50 places to work among private cloud companies.