Unicorn Investor Club: Icertis

Unicorn Investor Club: Icertis

Website | LinkedIn | Pitchbook

• Unicorn Club Status Date: 07/17/2019
• Valuation: $5B
• Co-Founders: Samir Bodas, Monish Darda
• Founded: 2009
• Location: Bellevue, Washington

Portfolio Summary

• Total investments: 194+
• Active holdings: 65
• Successful exits: 77 (including 42 acquisitions)
• First investments in Pacific Northwest startups: 128
• Follow-on funding secured by portfolio companies: $2.5+ billion

Description

Pitchbook: Developer of a contract intelligence platform designed to structure and connect every kind of contract. The company’s platform uses artificial intelligence to read, analyze documents, and third-party papers to provide authorized users with detailed risk reports and automatic obligations, as well as systematize all types of contracts and associated documentation, enabling clients to increase compliance, improve governance, mitigate risk, and enhance user productivity.

Purpose Statement: “Build trust, strengthen bonds, and create a better world.”

Mission and Values

“At Icertis, our definition of success includes living by our FORTE (Fairness, Openness, Respect, Teamwork, Execution) values, which guide all our interactions with employees, customers, partners, and stakeholders.”

Vision and Goals

“Ultimately our goal is to embrace a “Purpose Mindset” that enables Icertians to apply purpose both within their work, and also within the community to be a force for the common good.”

Programs and Resources

• 7 Day for Humanity Volunteering Program: Seven, fully paid volunteer days ?for the cause of the flounder’s choice.
• Double Your Impact Matching Gift Program: Icertis matches up to $1,000 per year of every Icertian’s donations to registered charities. In 2021, over $50,000 was donated to over 100 charitable organizations by Icertis and Icertians through the Double Your Impact program.
• Expanding usage of ICI by non-profits and community-based organizations for grants management and effective reporting.

Time to Articulate Our Purpose

“Two things spurred us to craft a Purpose Statement:

“The first has to do with the market we serve – B2B contract management. By their nature, contracts between organizations play a critical role in the world around them: helping keep promises made, supporting the rule of law, ensuring accountability and transparency. Also, as our business grew, customers shared with us myriad use cases that highlighted the larger purpose contract management served in supporting their purpose-driven initiatives, including ethical sourcing, environmental compliance, and supply chain diversity.

“Secondly, we had reached a stage of growth as a company where longer-term questions moved from hypothetical to reality, and we started thinking about how we could do more to give back as an organization. Icertis had always been active in corporate social responsibility and we have a framework, the Four Rings of Responsibility, to help guide us, so developing a purpose statement was our chance to formalize and articulate our thinking.”

– Icertis Dispatch, Our Purpose Journey

About the Author: Tess Danielson is a journalist and writer focusing on the intersection of technology and society.