Premji Single Family Office Investment Makes Indian Startup Icertis An Unicorn

Azim Premji is India’s richest person with an estimated net worth above $21.5B. Through his single family office he is actively investing in startups. A recent investment in Indian tech firm Icertis made the company to an unicorn.

Icertis is building a cloud-based contract management platform

Icertis is building a cloud-based enterprise contract management solution. The platform of the startup can be used in various industries from financial services to retail or technology and in different roles. Icertis helps legal departments to control contracts and to collaborate more efficiently. In procurement departments, Icertis delivers faster and safer processes. In finance departments, Icertis provides insights into past, present and future transactions and liabilities. More than 5.7M contracts are under management through the platform. Icertis is available in 90 countries and in 40 languages. Customers include 3M, Adobe, abbvie, Airbus, Infosys or Qantas.

$115M Series E led by Premji Family Office and Greycroft Partners

The recent $115M funding round was led by Greycroft Partners and the Premji Single Family Office. Other investors include B Capital Group, Eight Road Ventures or Cross Creek Adivsors. Through the funding round, Icertis’ valuation rose over $1B, which makes the company an unicorn. Premji’s family office is called PremjiInvest and is headquartered in Bangalore (India). PremjiInvest is a major investor in international startups. Other portfolio companies include Looker, YapStone or Devoted Health.

Sources

The Hindu Business Line (24.07.2019)
NESA by Makers (24.07.2019)
Icertis (24.07.2019)