Contract lifecycle management vendor Icertis secures $150M in debt to stave off rivals

News Summary

  • We deliver these insights instantly, so every entitlement within a company’s contracts can be realized for maximum value.”Among Icertis’ competitors are ContractPodAI and SirionLabs, which raised $55 million in July and $85 million in May, respectively, for their automation-fueled contract management software.
  • The platform systemizes contracts and the associated documentation, extracting data like contact information and clauses to figure out contractual commitments and monitor them to ensure compliance.Ingested contracts can be used to model commercial relationships in Icertis, letting users identify contracts missing clauses necessary to complying with regulations like GDPR.
  • Another formidable rival is LinkSquares, which landed $100 million in April to grow its platform that combines legal analysis with contract lifecycle capabilities.For what it’s worth, Icertis dwarfs them in size, with more than 2,000 employees spread across its offices in New Jersey, Chicago and elsewhere.
  • But it’s true Bellevue, Washington-based Icertis is already one of the larger and more successful contract management software vendors to emerge in recent years.
  • Bodas says that the company exited 2021 with an annual recurring revenue north of $100 million and recently surpassed $200 million in recurring revenue.
  • And, if you’re contract management software company Icertis, it’s payday.
Its Halloween. And, if youre contract management software company Icertis, its payday. After raising $115 million in 2019, Icertis today secured $150 million $75 million in convertible debt and [+6107 chars]