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The Silicon Review Asia

With a $115M funding - Icertis becomes India's third SaaS unicorn

With a $115M funding - Icertis becomes India's third SaaS unicorn

There is a new unicorn in the market and that is Icertis, which is software – as – a – service (SaaS) company. It is now obviously valued at $1 billion. The company had raised $115 million in fresh funding that was led by the US-based venture capital firms called Premji Invest and Greycroft. Also, the Pune based firm’s induction into the Unicorn Club had come after India’s first billion-dollar company in Freshworks. After that, it was Druva the data management firm who joined the club. It had raised an amount that was equal to $130 million earlier this year.

Also in the latest funding, Icertis had raised a total of $211 million till now. The firm did tell that it is strengthening its product by utilizing the capital. Further focus on new tech like machine learning, artificial intelligence, blockchain and expand its global footprint. Scouting in these areas the firm is taking a lot of initiation in automate reading of contacts and delivering better insights on decision making.

Samir Bodas who is the co-founder and CEO of Icertis did say that the company has 150 odd customers today and will have leaders in their industry to manage contracts. The firm will be managing a sum of 5.7 million contracts that will contain more than 2 million subscribers.

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