Facts
- HQ
- Germany
- Sectors
- Enterprise software, ERP, Customer relationship management, Technology
- Founded
- 1972
- Employees
- 107000
- Stage
- Public
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Icertis Raises $150 Million Debt Financing to Support Growth and Flexibility in Contract Management Market
Icertis, a Bellevue-based contract management software provider valued at around $5 billion, raised $150 million through debt financing as of October 31, 2022, to ensure business flexibility. The company serves clients worldwide, including Microsoft and SAP, and reported over 50% growth in annual recurring revenue in early 2022.
Rajat Bahri Named CFO of Icertis Amid $5 Billion Valuation; Pacific Northwest Tech Firms Announce Key Executive Hires
Rajat Bahri, former CFO of ID.me, has joined Icertis as CFO, replacing Curt Anderson, amid recent investments valuing Icertis at $5 billion. Additionally, several key tech and startup executives have taken new roles across Pacific Northwest companies including CommerceIQ, Waabi, Limeade, and AdaptX.
Seattle Startup CEOs Assess Recession Risks and Share Strategies Amid VC Funding Pullback
Seattle startup CEOs from Clearbrief, Icertis, Mason, Syndio, and Defined.ai shared their views on a potential recession, most noting industry-specific resilience and adaptations such as cost-cutting and focus on software demand. Clearbrief's CEO Jacqueline Schafer rated recession likelihood at 3/10, highlighting ongoing demand in legal tech due to COVID-driven shifts in work patterns.
SirionLabs Raises $85M Series D Led by Partners Group to Expand Contract Management Software
SirionLabs, a contract lifecycle management startup headquartered in Seattle, secured $85 million in Series D funding led by Partners Group to accelerate growth. The company, founded in India and serving over 250 customers, competes with firms like Icertis and aims to expand its employee base from 600 to 800.
Round, founded by ex-Microsoft leaders Ryan Fuller, Mani Gill and Brian Jansen, raises $12M seed to build vetted network for senior tech leaders
Round, a Seattle startup founded by former Microsoft leaders, raised a $12 million seed round to build a vetted network for senior tech leaders; other Pacific Northwest deals include PTO Exchange's $5.4 million raise and funding and licensing activity at PupPod.
SAP makes undisclosed investment in Icertis amid expanded partnership after SoftBank valued startup at $5 billion
Icertis, a Bellevue-based contract management startup, received an undisclosed investment from SAP as part of an expanded partnership; the move follows an October SoftBank investment that valued Icertis at $5 billion. The company previously raised $80 million in March and was valued at $2.8 billion then; total funding and exact SAP stake were not disclosed.
Magnify emerges from stealth with $6M to automate post-sales customer engagement, led by CEO Joshua Crossman
Magnify, an enterprise software startup led by CEO and founder Joshua Crossman, emerged from stealth with $6 million in funding to automate post-sales customer engagement using AI and machine learning. Backers include Madrona Venture Group, Decibel Partners and Pacific Northwest SaaS leaders such as Bill Richter, Christal Bemont, Elissa Fink, Jon Gelsey and Will Arora.
Qualtrics acquires Seattle journey-orchestration startup Usermind to bolster XM Directory
Qualtrics has acquired Seattle-based marketing startup Usermind, a 2013-founded leader in journey orchestration with about 40 employees, to strengthen its Qualtrics XM Directory and customer interaction tracking. Usermind, led by CEO Michel Feaster, raised $14 million in January, weathered pandemic layoffs, and saw increased demand as companies accelerated digital adoption.
Super.AI raises $12M to expand AI-driven data process automation; total funding now $21.6M
Super.AI, a Berlin-based "data process automation" startup founded by MIT and Big Tech veterans, raised $12 million to expand its AI-driven platform that automates labeling and analysis of unstructured data for tasks like e-commerce quality control and video processing.
Shipium raises $8M to help retailers optimize fulfillment and compete with Amazon
Seattle startup Shipium raised $8 million to provide API-driven fulfillment software that helps online retailers optimize shipping decisions and compete with Amazon amid a pandemic-driven e-commerce surge.
Icertis names ex‑SAP marketer Gretchen Eischen as CMO amid $2.8B valuation; Apollo partner David Sambur exits Expedia board
Icertis hired former SAP marketing executive Gretchen Eischen as CMO while moving Seth Nesbitt to a newly created culture role; Icertis was valued at $2.8B after an $80M round. Apollo partner David Sambur resigned from Expedia Group’s board after a $1B investment, and Remitly named Vishal Ghotge EVP of North America.
Accolade to buy PlushCare for up to $450M, adding virtual primary care and expanding TAM to $200B+
Accolade will acquire virtual primary care startup PlushCare for up to $450 million, adding primary care to its benefits platform and expanding its addressable market to over $200 billion. PlushCare, founded in 2015, has served 400,000 patients, posted $35 million revenue last year, and will continue its direct-to-consumer business under Accolade.
Deako Lighting raises $12.5M Series B as its plug-and-play smart switches land deal with D.R. Horton and commits to 1-in-8 new U.S. homes
Seattle smart-home startup Deako Lighting raised $12.5 million in a Series B to expand its plug-and-play smart light switches that work with existing wiring; the company says it has commitments to install in 1 of every 8 new U.S. single-family homes and signed a deal with D.R. Horton. Deako is adding two markets per week, reporting double-digit monthly compounded revenue growth, plans to double its 25-person team this year, and cites housing and pandemic-driven personalization tailwinds.
Icertis raises $80M Series F led by B Capital, valuation jumps to $2.8B; total funding $280M
Seattle-area contract-management software company Icertis raised an $80 million Series F, boosting its valuation to $2.8 billion and bringing total funding to $280 million as it reports revenue north of $100 million and 1,400 employees worldwide.
Former Microsoft Azure distinguished engineer Kushagra Vaid joins Eclipse Ventures as partner; Mary Shea named Outreach’s first evangelist
Multiple Pacific Northwest tech moves: former Microsoft Azure distinguished engineer Kushagra Vaid joined Eclipse Ventures as a partner and is advising Cyemptive Technologies; Athira Pharma appointed Barbara Kosacz to its board; Outreach hired former Forrester analyst Mary Shea as its first evangelist; and Microsoft Vancouver GM Edoardo De Martin left to become CTO at CubicFarm Systems.
Madrona hires John Torrey as first partner outside Pacific Northwest, expands Acceleration Fund investing to Texas and Utah
Seattle-based Madrona Venture Group hired John Torrey, its first investment partner based outside the Pacific Northwest, to help source and support Acceleration Fund investments from Texas and Utah as the firm expands geographically. Madrona also raised $161 million for its Acceleration Fund II and hired Katie Chiupka as manager of business development and partnerships.
Ralph de la Vega, ex‑AT&T vice chairman, joins Outreach board as startup hits $1.33B valuation; Flyhomes names two VPs
Former AT&T vice chairman Ralph de la Vega joined Seattle sales engagement startup Outreach's board after meeting CEO Manny Medina; Outreach is a $1.33B-valued unicorn that raised $50M in June and employs about 700. Seattle real-estate startup Flyhomes also appointed two VPs: Adam Hopson (growth and strategy) and Rehan Mohammad (finance and business operations).
Qualtrics raises $1.55B in Nasdaq IPO, priced at $30 valuing firm near $15B (shares closed >$27B)
Qualtrics completed a $1.55 billion IPO on the Nasdaq, pricing shares at $30 and valuing the company around $15 billion (shares later closed at $45.50 valuing it over $27 billion). The company — spun out from SAP after a 2018 $8 billion acquisition — plans to keep Seattle as a second headquarters with about 800 employees and will move into the renamed Qualtrics Tower when offices reopen.
Outreach CMO Margaret Arakawa departs; FlyHomes CMO Ryan Steingard joins Persona; Brian Goldfarb named Amperity CMO
Several Seattle-area marketing executives have changed roles: Margaret Arakawa left Outreach as CMO to pursue a new venture, FlyHomes CMO Ryan Steingard moved to chief growth officer at Persona, and Brian Goldfarb joined Amperity as CMO. Outreach recently raised $50 million in a Series F at a $1.33 billion valuation and serves over 4,000 companies.
Amazon names Anne Toth director of Alexa Trust; Zillow adds Claire Cormier Thielke to board; Lockstep exits stealth
Amazon hired Anne Toth as director of Alexa Trust to lead privacy, security, accessibility and ethics efforts for Alexa; Zillow added Claire Cormier Thielke to its board and Lockstep, a Seattle accounting-software startup founded in 2019, emerged from stealth with a founding team drawn from Avalara, Globys, e2b Teknologies and Winshuttle.
Accolade prices IPO at $22, raises $220M and debuts on Nasdaq at $1.2B valuation as shares jump 40%
Health benefits platform Accolade priced its IPO at $22 per share, raising $220 million and debuting on Nasdaq with a $1.2 billion valuation; shares rose over 40% to $30.90 in early trading. The Seattle- and Philadelphia-based company, led by CEO Raj Singh, serves employers with a subscription model and reported $132.5 million revenue for fiscal 2020, with four customers contributing 59% of that revenue.
Outreach raises $50M Series F led by Sands Capital, valuing Seattle startup at $1.33B
Seattle sales-engagement startup Outreach raised a $50 million Series F led by Sands Capital, bringing its valuation to $1.33 billion and total funding to $289 million while holding more than $100 million in cash. The company says the funding bolsters its position amid COVID-19 as remote selling increases and over 4,000 customers use its platform.
Madrona-led $4.5M seed funds Zeitworks, a Seattle ML startup co-founded by Ben Elowitz and CEO Ryan Windham
Seattle startup Zeitworks raised a $4.5 million seed round led by Madrona Venture Group with participation from JAZZ Venture Partners and Zillow co-founder Spencer Rascoff; the company uses machine learning to analyze and recommend improvements to repetitive business processes without back-end integrations. Zeitworks spun out of Madrona Venture Labs, is led by CEO Ryan Windham with co-founder Ben Elowitz, and plans to hire for several roles.
Ex-Docker CFO Brian Camposano launches stealth Seattle fintech Stratify; Concur founder Steve Singh named chairman
Former Docker CFO Brian Camposano launched a stealth Seattle fintech called Stratify after spinning out from Madrona Venture Labs, with Concur co-founder Steve Singh serving as chairman. The early-stage company — currently one employee and no public website — aims to use machine learning and AI to modernize corporate finance and deliver real-time insights for CFOs and finance teams.
Ben Elowitz launches stealth Seattle startup Zeitworks, spun out of Madrona Venture Labs to optimize people and time
Veteran Seattle entrepreneur Ben Elowitz has launched a stealth startup called Zeitworks, spun out of Madrona Venture Labs, aiming to help organizations maximize people and time using data science and AI. The company is hiring, Elowitz is supporting the team, and further details remain confidential.
People
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Christian Klein Executive, CEO
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Philipp Herzig Executive, Global CTO
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Sebastian Steinhäuser Executive, COO
