Icertis, a Bellevue-based cloud startup led by former Microsoft manager Samir Bodas, has raised $6 million in venture funding from Greycroft Partners and Fidelity Growth Partners India. The company plans to use the cash to grow sales and marketing, and continue development on its enterprise contract lifecycle management software for the Microsoft Cloud,
The company, which raised a seed round of capital in 2012, calls itself “a company born in the Microsoft cloud software startup.”
“Though the company is young, Icertis has an impressive list of customers including Microsoft, Roche, Hyundai HATA, Chemonics, and SunEdison. We were also impressed by the quality of their product, the stellar team, and their ability to execute,” said Mark Terbeek, a partner at Greycroft Partners. “Contract Lifecycle Management is a multi-billion dollar category, and Icertis is in pole position to lead in this space.”
Last week, Icertis announced that it was spinning off its cloud solutions and services business into a new company called CloudMoyo. Manish Kedia will serve as CEO and president of CloudMoyo.
“I have always believed that to build a successful company, one has to either create or ride a wave. With its products, solutions, and expertise, CloudMoyo is in a terrific position to ride the $100 billion cloud and data analytics wave,” said Bodas, who will remain chairman of CloudMoyo. “The company’s innovative approach will help customers reimagine their business.”
Prior to co-founding Icertis in 2009, Bodas served as president and CEO of Aztecsoft, a company that was acquired by IT services company Mindtree.