Icertis, a Bellevue, Wash.-based startup that sells contract management software, landed an undisclosed investment from SAP as part of an expanded partnership with the German multinational. The companies first partnered in 2020 to offer joint solutions to customers.
Founded in 2009, Icertis was valued at $2.8 billion after raising $80 million in March. The startup, which helps companies keep track of deals with suppliers and customers, is one of a handful of billion-dollar startups in the Seattle region.
SAP has ties to another Bellevue tech company, travel expense software maker Concur, which it acquired for $8.3 billion in 2014.