Icertis Promotes COO Anand Subbaraman to CEO Role

Contract management platform Icertis cofounder Samir Bodas is stepping down as CEO, and chief operating officer Anand Subbaraman is taking over the role, as AI continues to shake up the software-as-a-service industry.

After leading the company for over 15 years, Bodas will become executive chairman and remain actively involved in guiding its strategy and governance.

Subbaraman has over 25 years of experience in global enterprise software. He has worked as President at BrowserStack, General Manager for Core and Retail Banking at Finastra, and held product leadership roles at Oracle.

About Icertis 

Founded in 2009 by Samir Bodas, Monish Darda and Unmesh Bhathija, Icertis provides a cloud-based contract lifecycle management (CLM) platform that helps businesses create, manage, and improve contracts. It uses AI-powered analytics to gain insights, ensure compliance, and boost business results from contracts.

Icertis uses a subscription-based SaaS model, earning recurring revenue by licensing its platform to large companies around the world.

Icertis became a unicorn in July 2019 after raising $119 million in its Series E round led by Premji Invest, with a valuation of about $5 billion. Its Indian headquarters is in Pune.

In India, Icertis saw a 33% growth in operating revenue, reaching ₹863 crore in FY24 from ₹649 crore in FY23. The company’s profit also increased to ₹97 crore in FY24 from ₹71 crore the year before.

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