Third-party management platform Certa, which provides enterprises with compliance, governance and risk management solutions, has raised $35 million in a Series B funding round. The funding round is co-led by Fin Capital and Vertex Ventures Southeast Asia and India.

Share Market Live

NSE

The round also included participation from Tru Arrow Partners, Point72 Ventures, BDMI, The Chainsmokers-backed Mantis VC and GOAT Capital. The company has raised $50 million in funding to date.

“We have always seen Compliance and Risk Management as critical functions that impact the scaling of large enterprises, especially in today’s far more global, complex world,” said Piyush Kharbanda, General Partner at Vertex Ventures Southeast Asia and India.

“Certa’s technology stack makes it the best command centre for large organisations as they look to scale globally, and we have been very impressed by Jag and the team’s commitment to this space,” he added.

The fresh capital will be used to bolster the firm’s go-to-market engine, expand its reach into new high-growth markets such as the EU, and accelerate adoption, a statement said.

“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. “It is a testament to our technology and the value we have delivered to clients, many of whom are large Fortune 500 companies,” Lamba added.

Certa offers a platform where all third parties — vendors, partners and clients — can share data and internalise a company’s rules and policies around compliance and risk. It provides risk-scoring reports, templates and modules in addition to third-party validations and questionnaires to analyse risk and keep up with regulations, plus integrations that allow users to create risk management reports for their larger organisations.

The company claims to have helped clients on-board 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.

Also Read:GOAT Brand Labs completes acquisition of Frangipani

First Published:Sept 8, 2023 3:58 PM IST