Cloud Startup Icertis Raises $25M, Plans To Double Staff
Bellevue [Washington] cloud software company Icertis has raised $25 million from investors, less than a year after the firm pulled in $15 million in funding.
Icertis makes software that helps companies track contracts across all departments, whether they are deals with large vendors or for office supplies.
The company, led by Microsoft veteran Samir Bodas, plans to double its workforce this year, growing from 300 to at least 600 people. About 50 new positions will be in Bellevue, bringing the headquarters count to 100. Icertis also has employees in San Jose, California, India and Germany.
"We think we are at the cusp now where we can really fan out," CEO Bodas said. The company will open offices on the East Coast and in the Midwest this year.
Icertis said its software is used to manage more than 2.5 million contracts by 750,000 users within customer companies.
The software gives executives an easy way to see which contracts their company is negotiating and has signed, and helps speed up the contracting process.
Part of Icertis' latest funding will be used to further develop artificial-intelligence technology within its software. That includes so-called "bots" that could help a customer quickly find which contracts are up for renewal. Eventually, AI technology might be able to write parts of contracts, or even complete deals.
The funding round was led by California-based B Capital with participation from existing investors, including Ignition Partners and Greycroft.
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Posted: 2017-04-24 @ 12:25pm PT
Middle & senior management leaders in most corporates are getting increasingly frustrated & fatigued owing to constant politics of power, nepotism, ego battles & mind games.
Careers are made & destroyed by a handful of people, who are also a part of a handful of people! Therefore some of the best organizations struggle to grow despite having the best intentions, plans, top talent & brains in the country!
In the near future, job seekers will migrate towards those organizations which offer a non toxic work place, apolitical at its core & periphery & keep it simple. Yes, even if they don't offer too much money!