- Certa, once known as Opinr Inc., was established in 2019 and offers an operational management platform with a completely integrated suite of products for third-party lifecycle management.
- With this new funding acquired, Certa has now raised USD 50 million in total.
The operational management platform company Certa announced that it has raised USD 35 million in new funding to strengthen its go-to-market initiatives, broaden its reach into new high-growth markets, and speed up adoption.
Certa, once known as Opinr Inc., was established in 2019 and offers an operational management platform with a completely integrated suite of products for third-party lifecycle management. The platform helps companies manage business-to-business interactions, including onboarding, third-party relationship management, risk mitigation, and due diligence.
According to Certa, as businesses become more globally networked through hundreds of suppliers, partners, and clients, each connection increases the danger of fraud, data security, and privacy. The necessity for businesses to manage growing regulatory obligations, like the recent Uyghur Forced Labor Prevention Act in the US, the German Supply Chain Due Diligence Act, and Environmental, Social, and Governance goals, is also factored into the equation.
According to Certa, businesses must collaborate effectively, safely, and quickly with third parties to obtain a competitive advantage. The company asserts that current systems, at best, provide point solutions that are challenging to integrate, struggle to manage connected risks, and result in the siloing of third-party data across many platforms. That is the target market for Certa’s platform.
The platform offers what the company describes as a complete and intelligent solution for managing third parties globally across legal, compliance, ESG, and procurement. Certa’s solution enables businesses to handle all the procedures needed to onboard suppliers through a single interface, as mentioned when it made its last fundraising round in March 2022.
Certa performs an automatic risk evaluation when a business onboards new suppliers to identify potential vulnerabilities, such as weaknesses in the supplier’s cybersecurity posture. The finance and legal departments can use the insights revealed by Certa to guide their business decisions.
The platform also highlights problems that arise after the supplier onboarding procedure is finished, such as identifying instances in which a cloud provider violates a customer’s service level agreement. It can handle the numerous business documents needed for supplier management initiatives at an organization.
Fortune 500 firms and well-known clients like Box Inc., Uber Technologies Inc., Qantcast Media Inc., Instacart Inc., Roku Inc., and Grubhub Inc. are among Certa’s clients.
The Series B financing was sponsored by Fin Capital Management LLC and Vertex Ventures Holdings Pte. Ltd. Additionally taking part in the financing were Tru Arrow Partners LLC, Mantis VC LLC, PT Bank Danamon Investment Management Indonesia, Point72 Ventures LLC, Aglae Ventures LLC, and GOAT Capital Partners.
Logan Allin, Founder and Managing Partner of Fin Capital and Certa board’s new member, reported, “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.”
With this new funding acquired, Certa has now raised USD 50 million in total.