Icertis, the market leader in contract management software as a service (SaaS), has raised $75 million in debt financing, according to documents filed with the US Securities and Exchange Commission. After Icertis raised an undisclosed amount from German software giant SAP SE in January, the debt materialised.
Icertisis is a cloud-based enterprise contract management tool that offers simple solutions to complex contract administration issues. B Capital Group, Greycroft, and Premji Invest are other investors in Icertis.
The company will enhance net revenue retention and expand its market share in the US, UK, and other markets, including India, over the next three years. The US and UK account for more than 90% of the company’s business.
Japan’s SoftBank Vision Fund purchased shares from Eight Roads, an existing Icertis investor, in September 2022 for about $5 billion.
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