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Archivo del Autor: Belen De Leon

Contract management startup Icertis becomes unicorn with $115M new round

Icertis, a Washington-headquartered startup that develops cloud-based software to help large companies manage contracts, has raised $115 million at more than a billion dollar valuation to become the latest SaaS unicorn as it looks to further expand its footprints across the globe.

The Series E round for the 10-year-old firm was led by Greycroft and PremjiInvest, and saw participation from existing investors B Capital Group, Cross Creek Advisors, Eight Roads, Ignition Partners, Meritech Capital Partners, and PSP Growth. The startup, which also has offices in Seattle, Pune, Singapore, London, Paris, Sydney, has raised $211 million to date.

Icertis said it would use the fresh capital to expand its technology platform to address wider use cases. It said it would also expand its blockchain framework that integrates with enterprise contract management platforms to solve challenges such as transparency in supply chain and certification compliance. Its revenue are at about $100 million currently — another key area it intends to scale.

The firm, which claims that five of the world’s most valuable companies are its clients (one of which is Microsoft), said it would also scale its sales and marketing efforts to reach “every leading company in the world� and expand its partner ecosystem. It is also looking to acquire startups that are a good fit to its contracting business.

Icertis lets users manage almost all kinds of contracts. Companies use Icertis’ products to handle procurement, sales, and corporate contracts, including non-disclosure agreements. In addition to helping users create contracts, Icertis’ software also tracks when terms are met, ensures regulatory compliance, and automates administrative tasks like sending renewal reminders.

Icertis, which was founded originally in India, says it has more than 2,000 high profile customers and it helps them manage more than 5.7 million contracts with an aggregate value of more than $1 trillion. In a statement, Mark Terbeek, a partner at Greycroft, said Icertis’ ability to win “a huge stable of blue-chip customers� was among the factors that attracted them to invest in the company.

“Nothing is more foundational than contract management as every dollar in and every dollar out of a company is governed by a contract. As the CLM market takes off, we are thrilled to have Premji Invest join the Icertis family, Greycroft double down by co-leading this round, and all investors re-up their commitment as we execute on our mission to become the contract management platform of the world,” said Icertis’ cofounder and CEO Samir Bodas, in a statement.

Icertis competes with a number of firms including Apttus — which has raised north of $400 million, Springcm — which was acquired by DocuSign, Conga — which has raised over $100 million, Ariba, and Concord.


Source: TechCrunch

ContractPodAi scores $55M for its ‘AI-powered’ contract management software

ContractPodAi, a London-based startup that has developed what it describes as AI-powered contract lifecycle management software, is disclosing $55 million in Series B funding. The round is led by U.S.-based Insight Partners, with participation from earlier backer Eagle Investment.

Founded in 2012, ContractPodAi offers an “end-to-end” solution spanning the three main aspects of contract management: contract generation, contract repository, and third-party review. Its AI offering, which uses IBM’s Watson, claims to streamline the contract management process and reduce the burden on corporate in-house legal teams.

“The legal profession has been historically behind the curve in technology adoption and our objective here is to support to digital transformation of legal departments via our contract management platform,” ContractPodAi co-founder and CEO Sarvarth Misra tells TechCrunch.

“Our business focusses on providing in-house counsel of corporations across the world with an easy to use, out of the box and scalable end to end contract management platform at a fixed fee SaaS licence model”.

With regards to ContractPodAi’s target customer, Misra says its solution is industry agnostic but is typically sold to large international businesses, including FTSE 500 and Fortune 2000 corporations. Customers include Bosch Siemens, Braskem, EDF Energy, Total Petroleum, Benjamin Moore and Freeview.

Armed with new capital, ContractPodAi says it plans to “significantly” scale up its product development, sales, and customer success teams globally. The company already has offices in San Francisco, New York, Glasgow and Mumbai, in addition to its London HQ.

Adds Misra: “We believe that market for contract management solutions is fragmented with providers focussing one or two aspects of contract management functionality. ContractPodAi’s objective has been to provide one contract management ecosystem which covers all aspects of contract management functionality… This, along with our fixed, transparent pricing and ability to provide full implementation as part of the annual SaaS, differentiates us the from the rest of the providers”.


Source: TechCrunch

Walmart post-Prime Day sale: 4K TV, Apple, and Nintendo Switch deals

Prime Day 2019 has come to an end for Amazon, but that doesn’t mean the deals are over. Walmart’s Prime Day sale. Walmart’s Prime Day sale lasts all day today, extending a whole extra day beyond Amazon’s shopping extravaganza.
Source: Digital trends

33 Best Amazon Prime Day Alternative Deals From Walmart, eBay, Etc

Prime Day is so popular that Amazon competitors like Walmart and Target counter it with their own sales. We’ve collected the best of the rest.
Source: Wired

Asus Zephyrus M GU502GV review

Asus’ Zephyrus M is a mid-range gaming laptop that looks like it could be your everyday machine. Its ninth-generation Core i7 processor and RTX 2060 graphics chip are promising on paper, but odd choices hold the laptop back.
Source: Digital trends

The Nvidia GTX 1060-powered Dell G5 gaming laptop is $320 off

Prime Day is wrapping up, but a few other sales are still going strong for a little while. This gives you more time to jump on post-Prime Day deals like this Dell G5 15, a midrange gaming laptop that’s now on sale for an entry-level price.
Source: Digital trends

Amazon Prime Day 2019 smart home deals: Final hours to get the Echo Show 5 for $50, Google's Nest Hub for $79, Philips Hue, iRobot and more – CNET

Amazon’s Prime Day is starting to wind down, but you can still find huge savings on Amazon Echo smart speakers, Google devices, routers, connected doorbells, smart lights and other smart home products.
Source: CNET

Big Little Lies: All the songs from season 2 so far – CNET

Sufjan Stevens, Portishead, Donna Summers and Patti Smith are among the artists underscoring the Monterey Five this season.
Source: CNET

Emoji for falafel, service dogs and sloths are finally here – CNET

Apple and Google unveil diverse, inclusive emoji ahead of World Emoji Day.
Source: CNET

Facebook Libra cryptocurrency hearings with Congress Day 2: How to watch – CNET

The internet giant will appear before the House Financial Services Committee Wednesday at 7 a.m. PT/10 a.m. ET.
Source: CNET

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