Icertis eyes industry-specific tools

PUNE: PremjiInvest-backed Icertis plans to build industry specific solutions to help large organisations manage contracts with vendors and suppliers, its top executive said.

Icertis offers clients a contract management platform, which has apps built on top of it, helping large companies such as Microsoft and Airbus manage their contracts. The Pune-based unicorn works with five of the ten most valuable companies in the world.

“We will invest more in R&D in India this year and expand our team, as we work to build more apps to deliver value to specific problems,” said Samir Bodas, CEO, Icertis. In July last year, the firm raised $115 million from PremjiInvest and Greycroft at a valuation of over $1 billion, making it among the few Software-as-a-Service (SaaS) unicorns out of India.


Following the fundraising, Bodas said the company was creating apps to tackle industry specific challenges, such as rebate management contracts for the retail sector. He said all tech development work would happen out of Pune, which houses 95% of its R&D team.

In 2019, the company grew its headcount here by 60% to 1,000 employees, and Bodas said it would add another 400 people over the course of this year.

Most companies have struggled to find qualified tech talent, but Icertis has attracted interest following its unicorn status and the kind of work it does, Bodas said. The company mainly focuses on machine learning, natural language processing and blockchain, and deals almost entirely with large global firms.