Icertis says revenue rose 60% in H1 of 2021

Icertis said it signed on a record number of new customers in the first half of 2021, when the contract management firm also saw a 40% increase in the use of the platform by its customers.

From January to June 2021, the Bellevue, Washington-based company said it posted a 60% increase in revenue from a year earlier, leadership additions and expansion deals, underscoring rising demand in the sector. It did not reveal the revenue amount.

“Contracts define a business — what it buys, what it sells, and how it runs. Icertis structures and connects this critical business data so that our customers gain the transparency and agility needed to move faster and deliver on their commitments,” chief executive Samir Bodas said.

The customer lifecycle management sector, where Icertis operates, is growing at about 35%. The company, which recently added Harley-Davidson, Moda Health and RAC Western Australia to its customer list, had earlier this year closed a $80 million funding round at a valuation of about $2.8 billion.

Earlier, the company had announced two additions to its board of directors: Penny Pritzker, chairman of PSP Partners and a former US Secretary of Commerce; and Karyn Smith, general counsel at Twilio Inc. It had also appointed SAP veteran Gretchen Eischen as chief marketing officer.

It currently has about 10 million contracts worth over $1 trillion on its platform in 93 countries.