Certa – an all-in-one third-party management platform – recently 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. And existing investors Point72 Ventures, BDMI (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 funding round brings the total institutional investment in Certa to $50 million.
Organizations today are becoming increasingly global interconnected ecosystems of thousands of suppliers, partners, and clients. And each relationship adds risks like data security, privacy, and fraud. Plus, 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. The firm’s competitive edge depends on its ability to work efficiently, safely, and swiftly with third parties. Existing systems generally 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 offers a comprehensive and intelligent platform for global third-party management across procurement, compliance, ESG, and legal.
So far, Certa has helped clients onboard and monitor millions of companies across 120 countries supporting 41 languages.
Certa plans to use the funding to bolster its go-to-market engine, expand its reach into new high-growth markets like Europe, and accelerate adoption. And since customer feedback is in the company’s DNA, Certa is pioneering the use of advanced Generative AI to streamline third-party ecosystems.
KEY QUOTES:
“Business impact has been tremendous; we’ve been able to reduce our cycle times by over 78 percent.”
— 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.”
— Mark Arrigotti, Head of Finance Operations at Uber
“This investment in a tough economic environment underscores the demand for a more complete, modern solution to manage third-party relationships. 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.”
— Jag Lamba, founder and CEO of Certa
“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.”
— Logan Allin, Managing Partner and Founder of Fin Capital and the newest Certa Board Member
