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SaaS startup Icertis raises $150 million funding from Silicon Valley Bank
Software-as-a-service (SaaS) startup Icertis has raised $150 million through a revolving credit facility and convertible financing from US-based Silicon Valley Bank.
The company said on Monday that it would use the funds to further accelerate the adoption of technologies such as artificial intelligence (AI), machine learning, and blockchain.
Icertis’ latest funding round comes after it raised an undisclosed sum from German enterprise software maker SAP in exchange for a minority stake in January.
Founded in 2009, Icertis provides a contract lifecycle management software that helps businesses manage their contracts. It further helps organisations ensure visibility of these contracts, while helping them maintain compliance with local rules.
SaaS startup Icertis raises $150 million funding from Silicon Valley Bank
Unacademy monthly burn down to $7 million from $20 million: CEO Gaurav Munjal
Unacademy has brought its monthly burn down from $20 million to $7 million, said co-founder and chief executive officer Gaurav Munjal. Taking to Twitter on Friday (November 4), Munjal said, “Winter will get worse. Get to profitability asap. And then grow from there. Stop all unnecessary spends. Focus on building great Products and organic Traction Channels.”
Responding, user Parth Dhebar posted: “Oh, the irony. Isn’t Unacademy burning millions?”
Munjal replied saying, “Burn is down from $20M a month to $7M a month. Will further go down.”
Unacademy monthly burn down to $7 million from $20 million: CEO Gaurav Munjal
A podcast:
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Worth your attention:
Gautam Adani’s group to invest $150 billion in pursuit of $1 trillion valuation Link
Money View in talks with Apis Partners for $150 million funding round at unicorn valuation Link
D2C startup The Sleep Company raises $21.3 million in round led by Premji Invest Link
Cashback and coupons platform CashKaro raises Rs 130 crore in funding Link
Cleantech startup SolarSquare raises Rs 100 crore in Series A funding Link
PharmEasy’s parent raises debt funding Link
Tiger Global-backed Games24x7 launches Rs 400-crore fund for early-stage startups Link
upGrad to invest $30 mn to launch 10 global campuses next year Link
8i ventures marks first close of second fund worth $50 million Link
Messi is Byju’s brand ambassador for social initiative Link