Samir Bodas, CEO, Icertis, told ET, “The funds will be deployed towards increasing our physical presence globally, marketing spends and towards further investment in the Icertis Contract Management (ICM) platform to strengthen its leadership position.”
In April 2015, the company had raised $6 mn (about Rs 38cr) from Greycroft and Fidelity Growth Partners India.
Icertis is a leading provider of contract lifecycle management (CLM) in the cloud and in the past year, has signed on clients like Cognizant, HBO and Airtel. The company said that as per the latest market research, the CLM market is likely to reach a revenue size of $2 billion by 2019 in the US alone. Platforms like ICM, which provide a 360-degree approach to contracting, are positioned to gain substantial market share. Headquartered in Seattle, Icertis has an R&D lab in Pune apart from marketing offices in Mumbai and the US, and Zurich.