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Third-party management platform Certa has raised $35 million in its Series B round, led by Fin Capital and Vertex Ventures Southeast Asia and India.
The round also saw participation from Tru Arrow Partners and existing investors Point72 Ventures, BDMI, part of Bertelsmann’s corporate venture arm Bertelsmann Investments, and others.
This raise brings the total institutional investment in Certa to $50 million to date. According to Certa, it will use the funding to bolster its go-to-market engine, expand its reach into new high-growth markets such as the EU, and accelerate adoption.
“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. “Moreover, it is a testament to our technology and the value we have delivered to clients, many of whom are large Fortune 500 companies,” he added.
So far, it claims to have helped clients onboard and monitor millions of companies across 120 countries, supporting 41 languages. Additionally, since customer feedback is crucial for the company, Certa is pioneering the use of advanced generative AI to streamline third-party ecosystems, it added.
According to Piyush Kharbanda, General Partner at Vertex Ventures Southeast Asia and India, compliance and risk management are critical functions that impact the scaling of large enterprises, especially in today’s far more global, complex world.
“Its technology stack makes it the command centre for large organisations as they look to scale globally, and we are impressed by Jag and the team’s commitment to this space,” he added.
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