SoftBank-backed SaaS unicorn Icertis is reportedly exploring a potential sale, which could value the company at up to $5 Bn.
Sources told Bloomberg that many buyout firms have also shown preliminary interest in the sale. Deliberations are still ongoing and no final decision has been made on the matter. However, sources reportedly said that the AI-powered contract management software firm might decide against a sale.
Buyout firms typically are private equity (PE) firms that acquire controlling interests in established companies.
As per the report, the AI-powered contract management software firm is working with investment banking firm Goldman Sachs on the potential deal.
Inc42 has reached out to Icertis for comments on the development. This story will be updated based on the responses.
The development comes barely two weeks after Icertis cofounder Sameer Bodas passed away at the age of 61 after a prolonged battle with cancer.
Founded in 2009 by the late Bodas and Monish Darda, Icertis provides software that helps enterprises manage and analyse business contracts using artificial intelligence (AI). Its flagship product, Icertis Contract Management (ICM), is used to manage sell-side, buy-side and corporate contracts across global operations.
Headquartered in the US, the unicorn also has a research and development centre in Pune. The company claims that more than one-third of Fortune 100 companies across sectors such as financial services, healthcare, retail and manufacturing use its platform.
Notably, Icertis has raised more than $560 Mn in funding to date. It entered the unicorn club in 2019 after raising $115 Mn in a round led by Greycroft and Premji Invest.
The reported sale process comes at a time when several late-stage SaaS companies are weighing strategic options amid a tighter funding environment and renewed consolidation in the enterprise software segment.
Earlier this year, Everstone-owned SaaS major Wingify announced that it will merge with the Paris-based AB Tasty to form a $100 Mn+ ARR global experimentation and personalisation platform.
Last year, Goldman Sachs Asset Management acquired a majority stake in HR tech SaaS firm PeopleStrong in a deal reportedly worth around $130 Mn. In April 2025, fintech SaaS player Perfios also acquired IHX to deepen its insurance and data analytics stack.
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