Icertis, a Seattle, WA-based contract contract lifecycle management (CLM) company, closed an $80m Series F funding round at a valuation of over $2.8 billion.
The round was led by existing investor B Capital Group, with participation from Greycroft, Meritech Capital Partners, Premji Invest, PSP Growth, and e.ventures. In addition, Icertis added Penny Pritzker, founder and Chairman of PSP Partners, and former U.S. Secretary of Commerce in the Obama Administration; and Karyn Smith, general counsel at Twilio Inc., to its Board of Directors.
The company, which has now raised over $280m, will use this funding to invest in accelerating its AI and Blockchain development, expanding its sales and marketing prexence, and building out its global partner network.
Led by Samir Bodas, CEO and Co-founder, Icertis provides an AI-powered contract lifecycle management (CLM) platform that turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs.
The Icertis Contract Intelligence (ICI) platform digitizes the contracting process, extracts the critical structured and unstructured data found in contracts, connects this data to operational surround systems, and leverages AI to ensure the intent of every contract is fully realized.