Seattle-area startup Icertis, a provider of enterprise contracts and compliance management solutions, announced that it has raised an additional $80 million in a new funding round.
This new round values the company at a whopping $2.8 billion, making it one of the most valuable technology startups in the region.
The fresh funding is expected to help Icertis expand its global reach and continue to accelerate its growth.
Overview of Icertis
Icertis is a leading provider of enterprise cloud-based contract management software. Founded in 2009 by Samir Bodas and Monish Darda, the Seattle-area startup provides secure, compliant contracts that are easy to use, flexible and affordable. Icertis now has more than 1,300 customers around the world, including many Fortune 500 clients such as Airbus and Microsoft. Icertis has grown rapidly since its founding more than a decade ago, raising over $170 million in venture capital investments from investors such as Ignition Partners, Greycroft, Meritech Capital Partners and B Capital Group.
Recently, Seattle-area startup Icertis announced an additional infusion of $80 million in venture capital funding from new investors Sugon Venture Capital and B Capital Group. This fresh funding round brings Icertis’ total investment to over $170 million and values the company at $2.8 billion – making it one of the most valuable technology startups in the region. The new funds will go toward expanding Icertis’ global presence and increasing sales of its popular contract management system (CMS).
Funding Round
Seattle-area startup Icertis just announced a fresh funding round that results in an estimated $2.8 billion valuation. With the series F funding round, the company raised a whopping $80 million from Microsoft’s venture arm, M12, which is the largest investment in the company to date. The funding round is a testament to Icertis’ success and their prominent position in the field of contract management software.
Let’s take a closer look at the details of this investment round.
Overview of funding round
Seattle-area startup Icertis, a specialist in enterprise contract management tools, has announced that it has secured an additional $80M in funding. The round was led by private equity firm B Capital Group and existing investors BVP, Cross Creek Capital, Greycroft, Meritech Capital, and Unicorn. Icertis CEO Samir Bodas said the funds will be used to support further expansion of its cloud software systems platform and its global reach.
This latest funding round takes total investment in Icertis to more than $240 million and values the company at a large part of $2.8 billion. The company’s rapid growth trajectory is evident in the fact that it more than doubled its revenue last year compared to 2018. It now reports having over 715 customers across 65 countries spread over multiple industries — automotive, consumer goods, retail banking and airlines amongst them.
Icertis’ contract lifecycle management (CLM) platform enables companies in their efforts to comply with complex regulations regardless of geography or industry. It relies heavily on artificial intelligence and machine learning techniques as well as blockchain-based applications for smarter contracting across many areas including compliance optimization, risk mitigation, spend analysis and document automation.
The platform is expected to help organizations reduce manual processes for compliance audits with automated monitoring of authorised vendors which allows faster approvals for better decision making. In addition, it also offers advanced reporting capabilities allowing organisations to track contracts from negotiation to renewal stage which saves time during analysis tasks.
Icertis plans on using this fresh funding for further innovation around its cloud software systems, expand business operations overseas into markets like Europe, Japan and China as well as gain more enterprise customers worldwide.
Amount of funding raised
The Seattle-area startup Icertis recently announced that it has raised a fresh $80 million in its Series F funding round, bringing its total financing amount to $364 million. This new round also values the company at an impressive $2.8 billion, making Icertis one of the most valuable startups in the Seattle area. This fund raising was led by Premji Invest, with participation from existing investors such as B Capital Group, Cross Creek Advisors, Gray Matters Capital and Meritech Capital Partners.
Icertis provides an enterprise software that deals with contract management and offers its services to various industries like pharmaceuticals, automotive and semiconductors. Companies who have used their services before include Microsoft, ABB, Airbus and Roche to name a few. Their potential clients are large corporations who use contract-based services for nearly every task within their business model, which makes Icertis’s software a viable option for such companies as it streamlines their contract-based process exponentially.
Icertis plans to use this new funding along with its previous investments to help it expand its market reach further into the global markets and assist potentially thousands of organisations across multiple industries with efficient contract management solutions that are GDPR compliant. Additionally, this helped elevate Icertis’s leading position in the market of enterprise contracting solutions as well as define new parameters for the type of contracts being processed through their software tools.
With an impressive portfolio of investors backing them up and having multiple industry leaders showing significant interest in their products and services, there is little doubt that Icertis will continue on their mission towards revolutionising global contracting processes by providing intuitive yet sophisticated tools for collaboration between businesses across all countries!
Impact on Icertis’ valuation
Icertis, a Seattle-area startup that makes software to help companies manage contracts more efficiently, has raised $80 million in a fresh funding round. With this new influx of capital, the company’s valuation has now hit an impressive $2.8 billion. This makes Icertis one of the most valuable independent software suppliers in the enterprise tech sector.
The money is expected to be used to fuel Icertis’ expansion into more global markets and help it expand its offerings at a faster pace. The company is looking to use this new funding round to accelerate its growth in areas such as artificial intelligence, machine learning and cloud computing.
The new funds will also be used to further develop the company’s collaboration platform and expand its product portfolio so that it can address customer needs even more effectively.
This latest funding round brings Icertis’ total venture capital raised to date up to $224 million from prominent investors such as Microsoft Ventures, Cross Creek Advisors, KPCB and Eight Roads Ventures – among many others. Thanks to this latest round of investment, the Seattle-area startup is well on its way towards becoming one of the most successful tech startups in recent times.
Impact on Seattle Area
Seattle-area startup Icertis has recently raised $80 million in a fresh funding round, which has pushed its value to an impressive $2.8 billion. This round has resulted in a significant boost for the local economy and industry, as well as providing additional job opportunities and potential investments in the region.
This article will review the impact that this funding round has had on the Seattle region.
Overview of Seattle area startup ecosystem
Seattle, home to giants such as Amazon and Microsoft, has seen an explosion of growth in its startup ecosystem in recent years. The city is now home to a diverse array of businesses in a variety of industries, ranging from cloud computing and biotechnology to fintech and travel & hospitality.
The Seattle area has become an attractive destination for entrepreneurs with its unique combination of access to capital, strong economic infrastructure, and vibrant research institutions. Over the past decade, venture capital investments into startups based in the Pacific Northwest have grown dramatically — from under $300 million in 2010 to more than $10 billion in 2018. This influx of investment has supported the rapid development of many successful startups such as Icertis.
Icertis is a Seattle-area startup that provides contract management solutions for enterprises around the world. The company recently secured an additional $80 million as part of its latest funding round, valuing it at close to $3 billion — making it one of only four “unicorn” companies based in Seattle. This sizable investment serves as a testament not only to Icertis’ visionary team but also the strength and vibrancy of Seattle’s dynamic technology startup ecosystem.
Impact of Icertis’ success on Seattle area
The success of Seattle-area startup Icertis is providing powerful evidence that the city and its surroundings are emerging as a technology powerhouse. The cloud-software company raised $80 million in its latest investment round, pushing its overall value to $2.8 billion — a remarkable feat for a software startup.
This funding round also demonstrates Seattle’s promising technology industry, which is expected to create thousands of new jobs and fuel growth in both the local and national economies. According to venture capitalists, the success of Icertis foreshadows an even bigger tech boom in the Puget Sound region. In addition, it highlights the potential for startup companies in Seattle to become large global technology forces.
Due to Icertis’ success, many tech giants such as Amazon, Facebook and Microsoft are looking further up North for their next venture or acquisition targets. The back-to-back (Icertis) successes may have also inspired fledgling entrepreneurs to take their own big steps into launching tech startups as well. Specialists think that this funding surge could help boost smaller startups like Icertis through acquisitions by larger tech firms and more investments by venture capitalists.
Mentorship networks have emerged due to startups like Icertis paving the way for entry into the field of enterprise software development. All these efforts are consolidating Seattle’s position as an international hub for software development businesses — all thanks to Icertis’ recent success in raising $80 million in fresh funding!
Future Outlook
Seattle-area startup Icertis has just received a new round of funding worth $80 million, bringing its total valuation to $2.8 billion. This fresh funding has provided Icertis with the resources to continue developing innovative enterprise solutions for businesses of all sizes.
But what does this mean for the startup’s future outlook? In this section, we will explore what impact this new funding could have on Icertis’ future.
Icertis’ plans for future growth
The Seattle-area startup Icertis recently announced an $80M funding round that has now brought the company’s total funding to exceed $200M. This new funding round gives Icertis a valuation of $2.8 billion, making it one of the most successful and highly valued startups in the Seattle area.
The bright future outlook for Icertis means it is in a strong position to capitalise on upcoming opportunities and continue its growth trajectory. It plans to use this new funding to further develop its enterprise contract management software, take advantage of acquisitions and talent recruitment, advance its global presence, and establish long-term partnerships with major marquee customers such as Microsoft, SAP, Adobe and General Electric.
Specifically, Icertis plans to focus on expanding its enterprise footprint by streamlining complex processes with innovation; building an AI-driven marketplace for contracts that maximizes user productivity; creating an open platform for developers that unlocks the potential of contract technology; and connecting customers throughout the year with innovative use cases to make sure their businesses are running securely at all times.
By focusing strongly on these strategic initiatives in the near term, Icertis sets itself up for future success as a leader in enterprise contract management software.
Potential implications for Seattle area startup ecosystem
The recent news of Seattle-area startup Icertis raising $80 million in a fresh funding round signals a potential shift in the direction of the Seattle-area startup ecosystem. The company is now valued at $2.8 billion, making it one of the most successful startups to emerge from the area in recent years.
The successful funding round indicates to potential investors that with the right idea and team, Seattle-based startups can be successful. This could potentially draw more venture capital and talented individuals to this region, establishing it as a viable hub for tech innovation and development in the coming years.
Additionally, the success of Seattle-area companies further underscores the importance of innovation and risk-taking amongst entrepreneurs in order to achieve success – qualities that are also invaluable in other realms of business beyond technology.
Finally, it is critical to remember that while a single successful startup is no guarantee of future success for others within this ecosystem, with continued funding and investments, as well as mentorship for high potential founders with innovative ideas, we could see an uptick in activity around start up businesses within this region signalling strong potential for long term growth within Seattle’s tech ecosystem.
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