Funding round
Icertis Series C
Icertis, which works in contract lifecycle management platform development in Bellevue, raised $25M in a Series C round announced on 29 Mar 2017, led by B Capital. 5 firms took part, 4 of them already investors. It is Icertis' third venture round on record; the one before was a Series B in Mar 2016.
$25M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Icertis did not disclose a valuation in this round. It came 12 months after Icertis' Series B. It is 7.3% of the $341M Icertis has raised in the venture rounds on record. Icertis raised again 11 months later: a Series D round of $50M in Feb 2018. Its next priced round, a Series E in Jul 2019, valued it at $1.00B.
Icertis' funding rounds
Icertis has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 28 Apr 2015, led by Greycroft and Fidelity Growth Partners India $6.0M
- Series B 10 Mar 2016, led by Ignition Partners $15M
- Series C this round 29 Mar 2017, led by B Capital $25M
- Series D 8 Feb 2018, led by Meritech Capital $50M
- Series E 17 Jul 2019, led by Greycroft and Premji Invest $115M$1.00B post-money
- Series F 11 Mar 2021, led by B Capital $80M$2.80B post-money
- Debt not a venture round 31 Oct 2022, led by Silicon Valley Bank $150M
- Growth 1 Mar 2025 $50M
Investors
Who put money in
B Capital led the round with 4 other firms. Ignition Partners, Greycroft, Headline and Eight Roads had backed Icertis before.
Lead investor
- B Capital backs 156 venture-backed companies new investor
Also in the round
- backs 38 venture-backed companies existing investor
- Greycroft backs 236 venture-backed companies existing investor
- backs 163 venture-backed companies existing investor
- backs 125 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
155 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 83% of the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| DataRobot Tech Companies | 23 Mar 2017 | $54M | not disclosed | New Enterprise Associates |
| Cohesity Tech Companies | 4 Apr 2017 | $90M | not disclosed | GV and Sequoia Capital |
| Branch Tech Companies | 12 Apr 2017 | $60M | not disclosed | Playground |
| Tech Companies | 13 Feb 2017 | $60M | not disclosed | Insight Partners |
| Tech Companies | 8 Feb 2017 | $40M | not disclosed | Dragoneer Investment Group |
| Tech Companies | 18 Apr 2017 | $40M | not disclosed | New Enterprise Associates and Sapphire Ventures |
| Tech Companies | 20 Apr 2017 | $36M | $235M | GGV Capital |
| Tech Companies | 7 Feb 2017 | $30M | not disclosed | Lightspeed Venture Partners and Cisco Investments |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Icertis raise in its Series C round?
Icertis raised $25M in its Series C round, announced in Mar 2017.
Who led Icertis' Series C round?
B Capital led it, with Ignition Partners, Greycroft, Headline and Eight Roads.
What was Icertis' valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
155 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 83% of the median.
Did Icertis raise again after this round?
Yes: a Series D round in Feb 2018 of $50M.