News

Certa raises USD 35 million in a Series B funding round

Friday 8 September 2023 12:48 CET | News

US-based all-in-one third-party management platform Certa has raised USD 35 million in an oversubscribed Series B funding round.

 

Leading the investment were Fin Capital and Vertex Ventures Southeast Asia and India, with Tru Arrow Partners also participating. Notably, existing investors such as Point72 Ventures, BDMI (a part of Bertelsmann's corporate venture arm), Aglae Ventures, Mantis VC, and GOAT Capital also joined the round, which brought Certa's total institutional investment up to USD 50 million. 

According to Certa, in today's business landscape, organistions are operating within vast, interconnected networks of suppliers, partners, and clients on a global scale. These relationships introduce various risks, including concerns related to data security, privacy, and fraud. Additionally, companies face mounting compliance requirements, such as the Uyghur Forced Labor Prevention Act (UFLPA) in the United States and the German Supply Chain Due Diligence Act (LkSG), alongside pressing Environmental, Social, and Governance (ESG) objectives.

Most existing systems offer limited solutions that are often challenging to integrate, struggle to manage interconnected risks, and result in fragmented third-party data across multiple systems. In this context, Certa offers a comprehensive and intelligent platform for managing global third-party relationships, covering areas such as procurement, compliance, ESG, and legal. 

At the time of writing, Certa reports that it has facilitated the onboarding and monitoring of companies across 120 countries, accommodating 41 languages. 

Representatives from Certa emphasised the significance of this investment, especially in a challenging economic environment. They expressed confidence in the company's technology and its potential to become a category leader in third-party management.

 

US-based all-in-one third-party management platform Certa has raised USD 35 million in an oversubscribed Series B funding round.

 

How will Certa use the new funds? 

The funding obtained will be used to strengthen Certa's go-to-market efforts, expand its presence in high-growth markets, including Europe, and accelerate adoption. It's worth noting that Certa is leveraging Generative AI to streamline third-party ecosystems. 

In the company press release, officials from Fin Capital highlighted the holistic nature of Certa's offering, addressing not only risk and compliance but also broader business needs. Certa's platform can be customised through a no-code studio and an open architecture with over 120 ready-made integrations. 

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.


Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, investment, risk management, compliance
Categories: Fraud & Financial Crime
Companies: Certa
Countries: United States
This article is part of category

Fraud & Financial Crime

Certa

|
Discover all the Company news on Certa and other articles related to Certa in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events