Icertis, a SaaS company, has now secured $80 million in a Series F funding round, which values the unicorn to around $2.8 billion.
The latest funding round was backed by the existing investor B Capital Group, with participation from the Meritech Capital Partners, Greycroft, PSP Growth, e.ventures, and Premji Invest.
The company will now going to use the new funds to invest in accelerating AI and blockchain deployment, expand its sales and marketing footprint, and build out its global partner network.
Icertis has now secured around $280 million, and the current financing nearly triples the valuation of its Series E funding round in the month of July 2019.
Apart from that, Icertis added two distinguished business executives to its Board of Directors team.
The Icertis Contract Intelligence (ICI) platform digitizes the contracting process, extracts the critical structured and unstructured data round in the contracts, connects this data to operational surround systems, and leverages the power of AI to make sure the intent of each and every contract is fully realized.
“Icertis has built a mission critical contract intelligence platform which allows organizations to digitise contracts and generate business insights from contracts using AI. The world’s largest corporations, across industries trust Icertis to generate value from their contracts,” said Kabir Narang, Founding General Partner at B Capital Group.
“At B Capital, we look to back leading enterprise software companies which are digitising traditional analog workflows enabling collaboration and generating value for businesses,” he added.