Bellevue-based contract management software company Icertis has raised $50 million in fresh funding from existing investor B Capital, the company confirmed Wednesday. The new capital injection will primarily be used to pay down outstanding debt.
Founded in 2009, Icertis has emerged as a major player in the contract lifecycle management (CLM) market. With this latest round, the company has now raised more than $500 million to date, according to PitchBook. Its backers include prominent investors such as SoftBank and SAP.
At the height of the tech boom in 2021, Icertis was valued at $5 billion. B Capital — a Southern California-based venture capital firm — first invested in Icertis back in 2017.
Icertis reported more than $300 million in annual recurring revenue (ARR) in 2024 and achieved positive free cash flow, signaling healthy financial performance despite a cooling tech market.
The company continues to strengthen its leadership team and product offerings. In recent years, Icertis has expanded into AI-powered contract management solutions, aiming to automate and streamline complex contract workflows for enterprises.
Led by co-founder and CEO Samir Bodas, Icertis competes with other contract management software providers like DocuSign, Ironclad, and Sirion Labs. The company has also added seasoned executives to its team, including Rajat Bahri (former Wish CFO), Anand Subbaraman as COO, and Jay Lee as CMO.
With growing demand for AI-driven contract solutions, Icertis is well-positioned to continue scaling. Its technology helps enterprises manage thousands of contracts, improving compliance, reducing risk, and unlocking business insights.
The new funding marks a strategic move to strengthen the company’s balance sheet as it navigates market competition and expands its AI capabilities.
