Funding round
Icertis Series F
Icertis, which works in contract lifecycle management platform development in Bellevue, raised $80M in a Series F round announced on 11 Mar 2021, led by B Capital, at a $2.80B post-money valuation. 7 firms took part, 2 of them already investors. It is Icertis' sixth venture round on record; the one before was a Series E in Jul 2019.
$80M
Amount raised
$2.80B
Post-money valuation
7
Investors
1 lead
2.8x
Step-up from the Series E
$1.00B in Jul 2019
2.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Icertis at $2.80B after the new money, 2.8 times the $1.00B of its Series E (Jul 2019). The $80M bought investors about 2.9% of the company. It came 20 months after Icertis' Series E. It is 23% of the $341M Icertis has raised in the venture rounds on record. Icertis raised again 48 months later: a Growth round of $50M in Mar 2025.
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 17 Jul 2019, led by Greycroft and Premji Invest $115M$1.00B post-money
- Series F this round 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 6 other firms. B Capital and Ignition Partners had backed Icertis before.
Lead investor
- B Capital backs 156 venture-backed companies existing investor
Also in the round
- Greycroft backs 236 venture-backed companies new investor
- Meritech Capital backs 84 venture-backed companies new investor
- Premji Invest backs 50 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 163 venture-backed companies new investor
- backs 38 venture-backed companies existing investor
Joined the board: Penny Pritzker (PSP Growth) and Karyn Smith (Twilio Inc.).
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 and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
43 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $159M, and this round was 50% of the median. The closest in time, other companies' Series F rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Dataminr Tech Companies | 23 Mar 2021 | $475M | $4.10B | Eldridge Industries |
| Tech Companies | 17 Mar 2021 | $230M | $1.40B | Bessemer Venture Partners and Tiger Global |
| Tech Companies | 9 Mar 2021 | $220M | not disclosed | Georgian |
| Sysdig Tech Companies | 28 Apr 2021 | $188M | $1.19B | Premji Invest and Third Point Ventures |
| Tech Companies | 10 Jan 2021 | $360M | $2.00B | SoftBank Vision Fund |
| Forter Tech Companies | 25 May 2021 | $300M | $3.00B | Tiger Global Management |
| Tech Companies | 1 Jan 2021 | $150M | $1.00B | Goldman Sachs Asset Management |
| Tech Companies | 11 May 2021 | $100M | $1.70B | Greenspring Associates |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Icertis raise in its Series F round?
Icertis raised $80M in its Series F round, announced in Mar 2021.
Who led Icertis' Series F round?
B Capital led it, with Greycroft, Meritech Capital, Premji Invest, PSP Partners and Headline and 1 more.
What was Icertis' valuation at the Series F round?
$2.80B post-money.
How does it compare with other Series F rounds in Tech Companies?
43 Series F rounds in Tech Companies within a year either side disclosed an amount; the median was $159M, and this round was 50% of the median.
Did Icertis raise again after this round?
Yes: a Growth round in Mar 2025 of $50M.