Bellevue-based contract management software leader Icertis has secured a fresh $50 million investment from its long-time backer, B Capital, marking another milestone for the fast-growing SaaS company. This latest capital infusion is aimed at reducing outstanding debt, further solidifying the company’s financial footing as it continues expanding its AI-driven contract management solutions.
Founded in 2009, Icertis has now amassed over $500 million in total funding, according to PitchBook. The company is backed by industry giants including SoftBank and SAP, highlighting the growing investor confidence in the booming contract lifecycle management (CLM) space.
In 2021, Icertis achieved a valuation of $5 billion, reflecting its strong market presence and increasing demand for digital contract solutions. The recent $50 million investment comes from Southern California-based venture firm B Capital, which first invested in Icertis back in 2017.
AI-Powered Expansion Drives Revenue Growth
Icertis has experienced rapid growth in recent years, driven by the rising demand for AI-powered contract management tools. By 2024, the company reported generating more than $300 million in annual recurring revenue (ARR) while also achieving positive free cash flow — a significant milestone reflecting both operational efficiency and scalability.
The company has been steadily integrating artificial intelligence into its offerings, making contract management smarter and more efficient for businesses worldwide. This strategic focus on AI innovation helps Icertis stand out in a crowded market competing with major players like DocuSign, Ironclad, and SirionLabs.
Strengthening Leadership to Accelerate Growth
Under the leadership of co-founder and CEO Samir Bodas, Icertis has continued to scale globally. The company recently bolstered its executive team with several key hires to drive the next phase of growth.
In 2022, Icertis welcomed seasoned finance executive Rajat Bahri as Chief Financial Officer. Bahri previously guided Wish through its IPO in 2020, bringing extensive public market experience to the table.
Additionally, the company appointed Anand Subbaraman as Chief Operating Officer and Jay Lee as Chief Marketing Officer, both of whom bring deep expertise in scaling SaaS companies and expanding global market reach.
A Competitive Edge in Contract Management Software
Icertis continues to carve out its leadership position in the contract management software space, a sector gaining momentum as more enterprises shift toward digital-first operations. With AI capabilities enhancing everything from risk management to compliance monitoring, Icertis is well-positioned to meet the evolving needs of large enterprises navigating complex global contracts.
The fresh funding not only strengthens the company’s balance sheet but also supports its ongoing mission to redefine contract management through innovation and customer-centric solutions.
