Icertis clocks 36.6% jump in net profit to Rs 97 Cr in FY24
The Bellevue-headquartered firm’s operating revenue rose 33% to Rs 863 crore in FY24, up from Rs 649 crore in the previous fiscal year.
SaaS unicorn posted a net profit of Rs 97 crore in the financial year ended March 31, 2024, compared to Rs 71 crore in FY23.
The Bellevue-headquartered firm’s operating revenue rose 33% to Rs 863 crore in FY24, up from Rs 649 crore in the previous fiscal year. The company's total expense grew by 31%, reaching Rs 743 crore in FY24 compared to Rs 566 crore in FY23.
In 2022, the India-origin B2B company raised $150 million in funding through a combination of a revolving credit facility and convertible financing from .
Founded by Monish Darda and Samir Bodas in 2009, Icertis offers contract life cycle management (CLM) services.
The company’s AI-driven contract intelligence platform enables companies to organise commercial, legal, and operational data within contracts and integrate this information with procurement, ERP, HCM, and CRM systems.
In 2021, the SaaS firm also secured $80 million in a Series F funding round, bringing its valuation to over $2.8 billion. The round was led by existing backer B Capital Group, with additional investments from Greycroft, Meritech Capital Partners, Premji Invest, PSP Growth, and e.ventures.
Edited by Megha Reddy