Funding round
Icertis Series E
Icertis, which works in contract lifecycle management platform development in Bellevue, raised $115M in a Series E round announced on 17 Jul 2019, led by Greycroft and Premji Invest, at a $1.00B post-money valuation. 8 firms took part, 6 of them already investors. It is Icertis' fifth venture round on record; the one before was a Series D in Feb 2018.
$115M
Amount raised
$1.00B
Post-money valuation
$885M pre-money
8
Investors
2 leads
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Icertis at $1.00B after the new money. The $115M bought investors about 12% of the company. It came 17 months after Icertis' Series D. It is 34% of the $341M Icertis has raised in the venture rounds on record. Icertis raised again 20 months later: a Series F round of $80M in Mar 2021, at $2.80B post-money.
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 29 Mar 2017, led by B Capital $25M
- Series D 8 Feb 2018, led by Meritech Capital $50M
- Series E this round 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
Greycroft and Premji Invest led the round with 6 other firms. B Capital, Cross Creek Advisors, Eight Roads and Ignition Partners and 2 more had backed Icertis before.
Lead investors
- Greycroft backs 236 venture-backed companies new investor
- Premji Invest backs 50 venture-backed companies new investor
Also in the round
- B Capital backs 156 venture-backed companies existing investor
- Cross Creek Advisors existing investor
- backs 125 venture-backed companies existing investor
- backs 38 venture-backed companies existing investor
- Meritech Capital backs 84 venture-backed companies existing investor
- backs 18 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
34 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $87M, and this round was 1.3 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| ThoughtSpot Tech Companies | 28 Aug 2019 | $248M | $1.95B | Silver Lake |
| Tech Companies | 6 Aug 2019 | $200M | not disclosed | SoftBank |
| Tech Companies | 12 Jun 2019 | $165M | $1.40B | Standard Chartered and MUFG Innovation Partners |
| Tech Companies | 10 Jun 2019 | $100M | not disclosed | Technology Crossover Ventures |
| Carta Tech Companies | 6 May 2019 | $300M | $1.70B | Andreessen Horowitz |
| DataRobot Tech Companies | 17 Sep 2019 | $206M | not disclosed | Sapphire Ventures |
| Tech Companies | 20 May 2019 | $103M | $1.00B | Sapphire Ventures |
| Tech Companies | 14 May 2019 | $90M | not disclosed | One Peak and Goldman Sachs |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Icertis raise in its Series E round?
Icertis raised $115M in its Series E round, announced in Jul 2019.
Who led Icertis' Series E round?
Greycroft and Premji Invest led it, with B Capital, Cross Creek Advisors, Eight Roads, Ignition Partners and Meritech Capital and 1 more.
What was Icertis' valuation at the Series E round?
$1.00B post-money ($885M pre-money).
How does it compare with other Series E rounds in Tech Companies?
34 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $87M, and this round was 1.3 times the median.
Did Icertis raise again after this round?
Yes: a Series F round in Mar 2021 of $80M at $2.80B post-money.