Certa Raises Oversubscribed $35M Series B to Further Reduce Third-Party Management Friction
7.9.2023 16:00:00 EEST | Business Wire | Press release
The all-in-one third-party management platform, Certa, today announced it has raised a 2x oversubscribed Series B led by Fin Capital, and Vertex Ventures Southeast Asia and India, with participation from Tru Arrow Partners. Existing investors Point72 Ventures, BDMI, which is part of Bertelsmann's corporate venture arm Bertelsmann Investments, the family office of Bernard Arnault’s Aglae Ventures, The Chainsmokers-backed Mantis VC, and GOAT Capital also participated in the round. This raise brings the total institutional investment in Certa to $50M to date.
Today’s organizations are increasingly global interconnected ecosystems of thousands of suppliers, partners, and clients. Each relationship adds risks like data security, privacy, and fraud. Additionally, companies deal with ever-increasing compliance burdens, such as the recent Uyghur Forced Labor Prevention Act (UFLPA) in the U.S. and the German Supply Chain Due Diligence Act (LkSG), along with pressing Environmental, Social, and Governance (ESG) goals. A firm's competitive edge depends on its ability to work with third parties efficiently, safely, and swiftly. Existing systems at best offer point solutions which are often a pain to integrate, struggle to manage interconnected risks, and third-party data ends up siloed across multiple systems. Certa provides the most comprehensive and intelligent platform for global third-party management across procurement, compliance, ESG, and legal.
The results achieved by Certa’s clients speak volumes. “Business impact has been tremendous; we’ve been able to reduce our cycle times by over 78 percent,” said Linda Chuan, VP & Chief Procurement Officer at Box.
“We’ve been able to reduce our operating costs by 50 percent year over year and increase our on-time payments from around 40 to 95 percent,” echoed Mark Arrigotti, Head of Finance Operations at Uber.
To date, Certa has helped clients onboard and monitor millions of companies across 120 countries supporting 41 languages.
“This investment in a tough economic environment underscores the demand for a more complete, modern solution to manage third-party relationships,” said Jag Lamba, founder and CEO of Certa. “It is a testament to Certa’s best in class technology and the value we have delivered to clients, many of whom are large Fortune 500 companies. We are energized by the faith put in us by our rockstar investors and believe Certa is poised to be a next-gen category leader in third-party management.”
Certa will use the funding to bolster its go-to-market engine, expand its reach into new high-growth markets like Europe, and accelerate adoption. Since customer feedback is in the company’s DNA, Certa is pioneering the use of advanced Generative AI to streamline third-party ecosystems.
“Managing third parties is more than just risk and compliance - customers are looking for a full stack solution,” said Logan Allin, Managing Partner and Founder of Fin Capital and the newest Certa Board Member. “With its ability to redefine how businesses work and grow together, it’s an honor to partner with Certa on their journey as both an investor and board member.”
For more information, visit www.getcerta.com. Follow Certa on Twitter and Linkedin to stay up to date.
About Certa
Certa helps Fortune 500 firms with global third-party compliance, risk management, and ESG. Certa is a comprehensive platform to manage all third parties globally which can be personalized via a no-code studio and an open architecture with 120+ ready-made integrations.
Certa has been recognized as a Top 50 Procurement Providers to Watch in 2022 by Spend Matters, and a Representative Vendor in Gartner’s 2022 Market Guide for Third Party Risk Management Solutions and IT Vendor Risk Management Solutions.
For more information or to schedule a demo, visit our website, Twitter, and Linkedin.
About Fin Capital
Fin Capital is a global asset manager focused on full life cycle investing in B2B FinTech companies. The firm seeks to add meaningful value beyond capital throughout the partnership lifecycle with its proprietary platform, Lighthouse, hands-on operating playbooks, and deep operational experience. Fin is headquartered in San Francisco with offices in Los Angeles, London, Miami, and New York.
About Vertex Ventures Southeast Asia and India (VVSEAI)
Vertex Ventures Southeast Asia and India partners with founders who are creating innovative, transformative and scalable businesses. It has a long and strong track record of investing in early-stage startups and building champions like Grab, PatSnap, Nium, FirstCry, XPressBees, Licious, 17LIVE, and others. VVSEAI supports its portfolio companies with unmatched operating experience and deep access to the capital, talent, partners and customers they need to build truly global businesses. VVSEAI is one of six major funds in the Vertex Global Network which includes Vertex Ventures Israel, Vertex Ventures China, Vertex Ventures US, Vertex Ventures HC and Vertex Growth. These funds each focus on investments in their region and industry specialization. With the combined regional expertise and global reach, each team can leverage the Vertex Platform to get a broad view of innovation and share learning experiences across the world.
For more information, please visit: https://www.vertexventures.sg/
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Contact information
Lizzy Harris for Certa
lizzy@pipitcommunications.com
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