Icertis Acquires Dioptra To Deepen Legal Tech Play

SUMMARY

As part of the deal, Dioptra’s existing team will join Icertis’ product and engineering departments

The acquisition will look to combine the unicorn’s global reach with Dioptra’s specialised AI engine to accelerate product development and strengthen Icertis’ legal automation play.

While Icertis powers contract lifecycle management for clients in 90 countries, Dioptra operates an AI-driven legal tech startup focused on contract intelligence

SaaS unicorn Icertis has announced the acquisition of AI-led legal tech platform Dioptra for an undisclosed amount.

As part of the deal, Dioptra’s existing team will join Icertis’ product and engineering departments. The acquisition will look to combine the unicorn’s global reach with the startup’s specialised AI engine to accelerate product development and strengthen Icertis’ legal automation play.

The acquisition comes four months after the two companies announced a partnership to offer AI capabilities to their customers. This deal comes close on the heels of Icertis reshuffling its top leadership and elevating COO Anand Subbaraman to the post of CEO. Meanwhile, founder and former CEO Samir Bodas moved into the role of executive chairman in August.

“Icertis and Dioptra share a commitment to keep customers at the forefront of what’s possible with AI. Their technology and talent will underscore our leadership and enable Icertis to deliver even greater value across the entire contract lifecycle,” said CEO Subbaraman.

Founded in 2009 by Bodas and Monish Darda to help enterprises rethink contracts as business assets rather than paperwork, Icertis today powers contract lifecycle management (CLM) for more than one-third of the Fortune 100 across 90 countries.

On the other hand, Dioptra was founded in 2021 by ex-IBM Watson AI scientist Pierre Arnoux, ex-Yahoo systems engineer Jacques Arnoux and former Spotify product manager Farah Gasmi. It operates an AI-driven legal tech startup focused on contract intelligence.

Dioptra offers agentic AI solutions that automate contract review processes such as playbook creation, redlining, chat-assisted reviews, and instant search across contract repositories.

The acquisition will also enable Icertis to integrate Dioptra’s AI capabilities, such as agent-driven contract review, clause insertion, and workflow optimisation, directly into its platform. The company says the integration will help enterprises cut negotiation time, tighten compliance, and strengthen risk governance across complex legal operations.

The acquisition also comes as Icertis was said to be mulling a $50 Mn fundraise earlier this year from five undisclosed investors. The SaaS company entered the unicorn club in 2019 after raising $115 Mn in a round led by Greycroft and Premji Invest.

So far, it has raised a total of $516 Mn from investors such as SoftBank, B Capital, Greycroft, Meritech Capital Partners, and Silicon Valley Bank.

On the financial front, Icertis reported a revenue of INR 863.5 Cr in FY24, up 32.8% from INR 650 Cr in the previous fiscal year. Meanwhile, its net profit rose 36.7% year-on-year (YoY) to INR 97.1 Cr during the fiscal under review.