BENGALURU: The start-up ecosystem saw a lot of buzz this week with over $150 million fundraise by firms and a few M&As in the short content and edtech verticals. Pune-based Software as a service start-up Icertis almost trebled its valuation at 2.8 billion with an 80 million Series F funding from the existent
investor, B Capital Group.
Icertis is now the second most valuable Saas startup after Freshworks which helps enterprises manage their contract lifecycles.
The company plans to use this funding to further invest in product development and accelerating its AI and Blockchain.
Besides, It will also invest in sales and marketing, primarily to expand its partner network across the world.
Like a few other startups, industry analysts have said that the fresh funds raise may also be followed by Icertis going public especially since there have been key changes at the leadership level with the addition of executives who have helped companies list on stock exchanges.
“Icertis has built a mission critical contract intelligence platform which allows organizations to digitize contracts and generate business insights from contracts using AI. The world’s largest corporations, across industries, trust Icertis to generate value from their contracts. At B Capital, we look to back leading enterprise software companies which are digitizing traditional analog workflows enabling collaboration and generating value for businesses. We are excited to deepen our relationship with Icertis and look forward to continuing working with their incredible team,” said Kabir Narang, founding general Partner at B Capital Group.