Risk management platform Certa’s twice-oversubscribed Series B raises $35m
Risk management solutions provider Certa is set to reinforce its market engine and presence among global supply chains after it raised $35 million in a twice-oversubscribed Series B funding round.
The round was led by Fin Capital and Vertex Ventures Southeast Asia and India (SEAI), and saw additional participation from existing investors Point72 Ventures, Bertelsmann Investments’ venture arm BDMI, Mantis VC, Goat Capital and the family office of Bernard Arnault’s Aglae Ventures. Tru Arrow Partners is also believed to have participated in the round.
The investment brings the total amount raised by the US-based third-party risk management (TPRM) platform to $50 million since its inception a decade ago.
Certa seeks to mitigate the challenges faced by global supply chains in trying to coordinate multiple different suppliers, partners and clients, along with the litany of data security, fraud and privacy risks that arise during this process. In this, it offers a platform for global third-party management that aims to encompass all elements of procurement, compliance, ESG and legal, and claims to have assisted clients onboard and monitor “millions of companies” across 120 countries to date.
The company says the funding will be put to advancing its go-to-market engine and its exploration of emerging technologies like generative AI. It will also seek to tap new markets with high-growth potential such as Europe.
“This investment in a tough economic environment underscores the demand for a more complete, modern solution to manage third-party relationships,” comments the platform’s founder and CEO, Jag Lamba.
As part of its investment in the platform, Fin Capital has appointed its founder and managing partner, Logan Allin, to the Certa board.
“Managing third parties is more than just risk and compliance – customers are looking for a full stack solution,” comments Allin. Certa, he adds, has “the ability to redefine how businesses work and grow together”.