Contract lifecycle management platform Icertis, has secured $150 million in funding, comprised of a revolving credit facility and convertible financing from Silicon Valley Bank.
With the funds Icertis will be able to extend the company’s position in CLM category by accelerating the application of transformational technologies such as artificial intelligence, machine learning, and blockchain, to deliver material, unique, and consequential value to customers.
CFO of Icertis Rajat Bahri said, “this new funding from Silicon Valley Bank is a major vote of confidence in our growth trajectory, enhancing our already strong capital position, and enabling us to capture market share.”
“Icertis continues to gather strong momentum with a clear value proposition to help customers become more agile, drive efficiencies, and respond to market challenges such as inflation, sanctions, economic slowdown, and supply chain disruptions” he added.
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