Taylor Soper / GeekWire:Icertis, which develops enterprise contract management software, raises $80M Series E at a valuation of $2.8B, bringing its total raised to $280MIcertis has raised a new $80 million investment round, pushing its valuation to $2.8 billion, up from $1.1 billion in 2019.
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SAP backs contract monitoring software program start-up Icertis, complying with current SoftBank investment
Icertis, a Bellevue, Wash.-based startup that markets agreement management software application, landed a concealed financial investment from SAP as part of an increased collaboration with the German international. The business initially partnered in 2020 to supply joint remedies to consumers.
The most up to date backing from SAP complies with a different financial investment from SoftBank in October that valued Icertis at $5 billion, a company spokesperson confirmed for the very first time Tuesday.
Bloomberg previously reported that SoftBank paid about $80 million for a risk owned by previous Icertis backer Eight Roads Ventures. The speaker decreased to confirm that SoftBank got an existing risk.
Founded in 2009, Icertis was valued at $2.8 billion after increasing $80 million in March, which thrust complete financing to $280 million at the time. The company did not supply an upgraded financing total on Tuesday.
Icertis, which helps firms keep track of handle providers as well as customers, is just one of a handful of billion-dollar startups in the Seattle region.
SAP has connections to one more Bellevue tech firm, traveling expense software application maker Concur, which it obtained for $8.3 billion in 2014.
Editor’s note: Story upgraded with information about the SoftBank investment.
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