Azim Premji leads an investment in Indo-US startup Icertis, turns it into a unicorn

• SaaS platform Icertis has raised $115 million, and is the latest entrant into the unicorn club.
• The startup has raised the funding from Azim Premji’s Premji Invest and US-based VC firm Greycroft.
• Earlier in June, another SaaS platform Druva had raised funds to be a unicorn.

India and US-based Software-as-a-Service (SaaS) platform Icertis is the latest startup to join the unicorn club following a funding from Azim Premji’s Premji Invest and US-based VC firm Greycroft. The startup has raised $115 million in its latest fundraising.

With its total funding standing at $211 million, the company, which offers contract management, has raced past the $1 billion mark in value, to enter the unicorn club.

The startup has 5.7 million contracts so far across 90 countries. Its clients include Adobe, Airtel, Cognizant, Infosys, Microsoft and others.

According to reports, with the new funds, the company will invest in building new technologies like blockchain, artificial intelligence and machine learning. It also plans to expand its global presence.

In June 2019, another Indo-US-based SaaS startup Druva had entered the unicorn club after raising $130 million in a round led by Viking Global Investors and Nexus Venture Partners.

Meanwhile, Premji Invest, which is the family office of Azim Premji, has been investing since 2006 and has placed its bets across 40 countries.

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