Ignition Partners Congratulates Icertis on its Series D Financing
We Knew It When We Saw It: Our Investment in a Customer-Centric, Technology-Driven Category Leader
by: John Connors
Businesses worldwide are facing incredible demands to meet the challenge of the digital revolution. There is not a single industry shielded from being reinvented and reimagined. Software technology companies are leading this incredible revolution. As investors in early-stage business software companies, we are fortunate to meet entrepreneur’s whose ideas are helping customers respond and meet the opportunities of this revolution.
At Ignition, we seek to invest in founders who are relentless in creating value for their customers, team members and investors. That description applies to the co-founders of Icertis, Chairman and CEO Samir Bodas and CTO Monish Darda. Together, Samir and Monish have built the team that has created the category leader in Contract Lifecycle Management.
Industry leaders from around the globe rely on the Icertis Contract Management (ICM) platform. The Icertis Contract Management platform transforms contracts into strategic business assets, giving global enterprises powerful new capabilities to maximize revenue, control costs, and manage risk. Powered by Microsoft Azure and a deep Microsoft relationship, the Icertis platform is accessible in every country, in every language, 24/7. Icertis Contract Management is being used enterprise wide across legal, finance, procurement and sales functions in the world’s most complex and sophisticated companies.
As a former executive at Microsoft — an organization whose complexity one can easily imagine — I understand the benefits that an elegant, efficient solution such as Icertis can offer. So it’s no surprise to see their business validated by the market. In 2017, the company doubled its revenue and secured major customer wins including BASF, Daimler, Lufthansa AirPlus, Sanofi, Wipro, and WWT. Icertis is recognized as a leader in its category by industry analysts such as Gartner and Forrester. The Icertis Contract Management platform is used to manage 5+ million contracts by 2+ million subscribers at companies like 3M, Daimler, Microsoft, Roche and Wipro in 40+ languages across 90+ countries. Their traction is impressive and I can’t say enough about how well the team has executed.
Icertis is a great example of the caliber of company in which Ignition seeks to invest: early-stage disruptors, solving complex business problems with elegant solutions. It’s been rewarding to partner with Samir and Monish as they re-define the enterprise contract management market. It’s even more rewarding to hear from my long-time friends and colleagues around the world as they transform their business processes with Icertis.
John Connors is a managing partner at Ignition Partners. He joined Ignition after a distinguished career at Microsoft where he served in several high-level strategic roles, including SVP of Finance and Administration and Chief Financial Officer, Vice President of the Worldwide Enterprise group, Vice President and Chief Information Officer and Vice President and Corporate Controller. John is a member of the board of Nike (NKE), Splunk (SPLK), FiREapps, Motif Investing, Chef, Azuqua, Tempered Networks, Icertis, KenSci, and LiveStories.