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SaaS unicorn Icertis to raise $50 Mn

EntrackrEntrackr · 5m ago
SaaS unicorn Icertis to raise $50 Mn
Medial

US-based contract management SaaS firm Icertis is set to raise $50 million in a new funding round, according to a Form D filed with the US Securities and Exchange Commission (SEC). The filing did not disclose the names of the investors. Last year, an ET report indicated that SoftBank was likely to invest in Icertis' new funding round, which might conclude at $150 million. This round follows Icertis' previous $150 million funding in October 2022 consisting of a revolving credit facility and convertible financing from Silicon Valley Bank. Icertis is an enterprise contract management software provider offering AI-powered solutions to enhance risk management, compliance, and efficiency across departments like finance, legal, procurement, and sales. According to startup data intelligence platform TheKredible, Icertis has raised $522 million prior to this round, including both debt and equity, from investors such as Silicon Valley Bank, B Capital, Premji Invest, and others. Icertis became a unicorn in July 2019 after raising $119 million in its Series E round led by Premji Invest. It was last valued at around $5 billion. In India, the company is headquartered in Pune. Icertis Indian entity reported 33% growth in its operating revenue to Rs 863 crore in FY24 from Rs 649 crore in FY23. The company registered Rs 97 crore profit in FY24 compared to Rs 71 crore in the previous fiscal year.

Icertis appoints Anand Subbaraman as CEO, co-founder Samir Bodas moves to executive chairman role

EntrackrEntrackr · 20d ago
Icertis appoints Anand Subbaraman as CEO, co-founder Samir Bodas moves to executive chairman role
Medial

Icertis appoints Anand Subbaraman as CEO, co-founder Samir Bodas moves to executive chairman role Contract management platform Icertis has appointed Anand Subbaraman as its new chief executive officer, replacing cofounder Samir Bodas, who will transition to the role of executive chairman. Bodas will continue to be actively involved in shaping the company’s strategy and governance. Subbaraman brings over 25 years of global enterprise software experience, with prior roles including President at BrowserStack, General Manager for Core and Retail Banking at Finastra, and product leadership at Oracle. Icertis offers a cloud-based contract lifecycle management (CLM) platform that enables enterprises to create, manage, and optimize contracts. The platform uses AI-powered analytics to extract insights, ensure compliance, and improve business outcomes from contractual agreements. Icertis operates on a subscription-based SaaS model, generating recurring revenue by licensing its platform to large enterprises globally. According to startup data intelligence platform TheKredible, Icertis has raised $522 million to date and it’s in the process of raising another $50 million. Icertis became a unicorn in July 2019 after raising $119 million in its Series E round led by Premji Invest. It was last valued at around $5 billion. In India, the company is headquartered in Pune. Icertis Indian entity reported 33% growth in its operating revenue to Rs 863 crore in FY24 from Rs 649 crore in FY23. The company registered Rs 97 crore profit in FY24 compared to Rs 71 crore in the previous fiscal year.

Uniphore acquires ActionIQ and Infoworks

EntrackrEntrackr · 8m ago
Uniphore acquires ActionIQ and Infoworks
Medial

Uniphore, an enterprise-class and AI-native company, has acquired two data companies, ActionIQ and Infoworks. These strategic acquisitions extend its comprehensive end-to-end Enterprise AI platform and aim to deliver the industry’s first Zero Data AI Cloud, Uniphore said in a press release. According to Uniphore, with these acquisitions, customers will gain access to a comprehensive suite of AI capabilities. This will allow organisations to move beyond proof-of-concept AI trials into full-scale implementation, accelerating their digital transformation. Uniphore states that its Zero Data AI Cloud is built on an infrastructure-agnostic architecture that creates a seamless data fabric across any data platform, enterprise application, or cloud environment. ActionIQ is a composable zero-copy data Platform, enabling enterprises to connect all data, from anywhere, and make it AI-ready without the need for lengthy integration or ETL projects. While Infoworks contributes its Enterprise Data Platform, which includes intelligent AI data agents capable of discovering, identifying, organising, cataloguing, and cleaning enterprise data with minimal human intervention. With these acquisitions, its combined expertise and technology will enable enterprises to leverage all their data for AI initiatives without the need to move, transform, or copy it, significantly accelerating results from years to weeks. Uniphore says it offers multi-layered AI architecture, consisting of a composable data layer, knowledge layer, model layer, and agentic layer. Each layer is equipped with feature-rich solutions, with continued investments planned in each area. With this 4-layer approach, customers can fully leverage its suite of end-to-end AI capabilities through an open architecture, ensuring data sovereignty and enterprise-grade scalability. Organisations maintain complete control while deploying AI solutions at any scale. Uniphore claims that it empowers over 750,000 end-users across 1,600 enterprises in 20 countries.

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