Contract lifecycle management vendor Icertis secures $150M in debt to stave off rivals
10/31 13:24
According to Techcrunch, after raising $115 million in 2019, Icertis today secured $150 million — $75 million in convertible debt and a $75 million revolving credit facility — in a combined tranche that brings the company’s total capital raised to $520 million.
CEO Samir Bodas was rather vague about the plans for the new cash, but told TechCrunch in an interview that it would involve “accelerating the application of transformational technologies like artificial intelligence, natural language processing, machine learning and blockchain to deliver material, unique, and consequential value to customers.” That’s all rather ambitious (and, truth be told, a little buzzwordy), but Bodas asserted that Icertis is well-positioned to fend off rival startups in the cutthroat contract management space.
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