Pune Based startup Icertis raises funds from SaaS giant SAP

• ByTejika Bajaj     |    January 27, 2022

Pune based contract management platform Icertis raises funds a sum from Germany based SaaS giant SAP in exchange for a minority stake in the company for the latter. The financials or the deal size remains undisclosed by the parties.

The recent collaboration between the two entities is likely to involve a joint product map and deeper technological integration for the clients of Icertis. The founder has also pointed out that the recent partnership also means that SAP will be co-selling Icertis products thus marking more revenue for the startup.

“We have many common customers like automaker Daimler AG, The Boeing Company, among others. There is tremendous alignment between our products. SAP will integrate with our products and co-sell them,” Samir Bodas, founder and chief executive of Icertis said.

Talking about the recent deal and the future course of action for both the firms, the CEO and member of the Executive Board at SAP, Christian Klien stated, “The expanded cooperation with Icertis will help our customers take advantage of market-leading innovations for contract management from Icertis while managing core business processes with SAP solutions. This partnership is a great complement to our portfolio, with multiple touchpoints to SAP systems across ERP, finance, procurement, sales and HR.”

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