Bellevue, Washington When pune, india, November 1, 2022 /PRNewswire/ — Icertis, a contract intelligence company pushing the boundaries of what’s possible in contract lifecycle management (CLM), $150 million Financing consisting of a revolving credit facility and convertible financing from Silicon Valley Bank.
The funding will allow Icertis to expand its reach in the fast-growing CLM category by accelerating the application of transformative technologies such as artificial intelligence, machine learning and blockchain, delivering significant and unique resulting value to its customers. You can further expand your leadership position. The Icertis Contract Intelligence platform helps companies structure critical commercial, legal, and operational data within contracts and connect that data to their surrounding procurement, ERP, HCM, and CRM systems, helping the world’s largest companies It enables many to accelerate revenue, reduce costs, and improve management. Avoid risk and ensure compliance.
“Customers across all industries are using our AI-driven contract intelligence platform to digitally record the purpose of all commercial relationships and ensure that the intent of those contracts is fully realized. must be more agile, more efficient, and responsive to market challenges such as inflation, sanctions, economic slowdowns and supply chain disruptions.” rajat bali, CFO of Icertis. “This new funding from Silicon Valley Bank is a huge vote of confidence in our growth trajectory and strengthens our already strong capital base, captures market share and marks the next exciting chapter in our journey. It allows us to build towards
According to MGI Research, the total market for categories covered by CLM is $30 billion in the next five years. Icertis is at the forefront of contract management, transforming the CLM category and pioneering contract intelligence. With robust AI and deep and broad technology partnerships, Icertis structures and unifies contract data to deliver end-to-end value across the enterprise by automating processes, maximizing contract value and mitigating risk.
Icertis achieved unprecedented growth and momentum in the CLM market last year. This is demonstrated by a wave of industry-first vertical his solutions, strong new partnerships, trusted relationships with iconic customer brands, and analyst ratings that continue to strengthen the company’s unique momentum. strategic achievement.
“We are excited to work with Icertis to support their continued growth as the market-leading contract intelligence platform. Bob Bree, Head of US Technology Corporate Banking at Silicon Valley Bank. “Contracts are the foundation of commerce and sit at the intersection of nearly every business process. Understanding and using the underlying data can drive significant business impact across a wide range of businesses. Icertis We are proud to help your team build a lasting business.and industry–A large enterprise software company. ”
With unparalleled technology and category-defining innovations, Icertis pushes the boundaries of what is possible in Contract Lifecycle Management (CLM). An AI-powered, analyst-validated contract intelligence (ICI) platform transforms contracts from static documents to strategic advantage by structuring and connecting critical contract information that defines how an organization operates. to Today, the world’s most iconic brands and disruptive innovators entrust their rights and commitments in over 10 million contracts to Icertis. $1 trillion In 40+ languages and 90+ countries.
About Silicon Valley Bank
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 MGI Research 2022: https://mgiresearch.com/research/mgi-forecasts-contract-lifecycle-management-software-global-tam-forecast-2022-2026/
Senior Manager, Corporate Communications