Certa raises $50m Series B for third-party management platform
Certa, an all-in-one third-party management platform, announced an oversubscribed $50M Series B round led by Fin Capital, Vertex Ventures Southeast Asia and India, and Tru Arrow Partners. Existing investors such as Point72 Ventures, Bertelsmann Investments, and GOAT Capital also participated, bringing Certa’s total institutional investment to $50M to date.
Demand for Comprehensive Third-Party Management in a Complex Landscape
Jag Lamba, founder and CEO of Certa, underlined the significance of this investment: “This investment in a tough economic environment underscores the demand for a more complete, modern solution to manage third-party relationships. 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.” Companies nowadays face an increasing range of challenges, including data security, privacy, fraud, and complex compliance regulations like the U.S. Uyghur Forced Labor Prevention Act and Germany’s Supply Chain Due Diligence Act. Certa aims to provide a holistic platform for managing these complex relationships efficiently.
Significant Business Impact and Client Testimonials
Certa’s platform has led to quantifiable benefits for its clients. Linda Chuan, VP & Chief Procurement Officer at Box, stated, “Business impact has been tremendous; we’ve been able to reduce our cycle times by over 78 percent.” Mark Arrigotti, Head of Finance Operations at Uber, supported this by saying, “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.” To date, the platform has aided clients in onboarding and monitoring millions of companies across 120 countries and supports 41 languages.
Future Plans and Strategic Investments
The Series B funding will be utilized to bolster Certa’s go-to-market strategies, expand its footprint into new high-growth markets like Europe, and accelerate user adoption. Logan Allin, Managing Partner and Founder of Fin Capital, added, “Managing third parties is more than just risk and compliance – customers are looking for a full-stack solution. 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.”
By providing a comprehensive and intelligent platform for global third-party management across various sectors, Certa is well-positioned to meet the growing demands in procurement, compliance, and ESG.