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Contract-intelligence startup Icertis raised undisclosed funds from SAP

Seattle and Pune-based contract intelligence startup Icertis raised an undisclosed amount from German-based SaaS giant SAP. The investment comes alongside a product partnership between the two companies to deeper technological integration for clients. Reports suggest that with the investment, Icertis’ valuation has reached $5 billion.

SAP and Icertis have already been partners since 2020 for the latter’s source-to-pay and lead-to-cash processes. Through the current partnership, Icertis Contract Intelligence (ICI) will become an endorsed solution for SAP’s Ariba and customer experience products on the SAP Store. The store hosts 1,800+ innovative solutions from SAP as well as its partners — one of them being Icertis.

Founded in 2009, by Monish Darda and Samir Bodas, Icertis is a cloud enterprise software startup that offers enterprise contract management in the cloud. The company’s flagship product, Icertis Contract Management (ICM) can manage, sell-side, buy-side, and corporate enterprise contracts across the globe.

It also provides business applications to manage clinical trials, collaboration modules, GDPR compliance, risk management, among others. The company caters to multiple industries such as financial services, healthcare, pharmaceutical, retail, and manufacturing industries.

The ICM platform claims to have helped customers worldwide manage 10 Mn+ contracts with an aggregate value of more than $1 trillion in 40+ languages and 90+ countries. Icertis counts giants such as Google, Microsoft, Daimler, Airbus, Johnson & Johnson, Lupin, Infosys, Wipro and Cognizant as its customers.

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