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Samir Bodas, CEO of Icertis. (GeekWire File Photo / Kevin Lisota)
Bellevue, Wash.-based contract management software company Icertis raised $50 million in a new investment from existing backer B Capital, the company confirmed Wednesday.
The fresh cash will be used to pay down outstanding debt.
Founded in 2009, Icertis has now raised more than $500 million to date, according to PitchBook. It is backed by industry heavyweights such as SoftBank and SAP.
Icertis was reportedly valued at $5 billion in 2021.
B Capital, a VC firm based in Southern California, first invested in 2017.
Icertis reported more than $300 million in annual recurring revenue in 2024 and generated positive free cash flow, according to the company.
The company has been rolling out various AI-related products in recent years. It competes with a number of other contract management software providers, including DocuSign, Ironclad, Sirion Labs, and others.
Icertis is led by co-founder and longtime CEO Samir Bodas. The company in 2022 hired finance vet Rajat Bahri, who helped take Wish public in 2020. More recently it added Anand Subbaraman as chief operating officer and Jay Lee as chief marketing officer.
