Contract Management Platform Icertis Appoints New CEO Anand Subbaraman

Contract management platform Icertis has appointed Anand Subbaraman as its new chief executive officer, succeeding cofounder Samir Bodas, who will shift to the role of executive chairman. Bodas remains actively involved in guiding the company’s strategy and governance.

Anand Subbaraman’s Experience

Subbaraman comes with over 25 years of expertise in global enterprise software. His previous positions include serving as President at BrowserStack, General Manager for Core and Retail Banking at Finastra, and holding pivotal product leadership roles at Oracle.

About Icertis

Icertis provides a cloud-based contract lifecycle management (CLM) platform that empowers enterprises to create, manage, and optimise contracts. The platform utilises AI-driven analytics to derive insights, ensure compliance, and enhance business outcomes from contracts.

SaaS Business Model

Icertis operates using a subscription-based SaaS model, generating steady recurring revenue by licensing its platform to large enterprises worldwide.

Funding and Growth

According to multiple sources from the startup data intelligence platform, Icertis has accumulated $522 million in funding to date and is currently seeking an additional $50 million.

Valuation and Achievements

Icertis became a unicorn in July 2019 after raising $119 million in its Series E funding round spearheaded by Premji Invest, with a recent valuation of approximately $5 billion. The company is headquartered in Pune, India.

Financial Performance

Icertis’s Indian entity reported a 33% increase in its operating revenue, reaching Rs 863 crore in FY24, up from Rs 649 crore in FY23. The firm also registered a profit of Rs 97 crore in FY24, compared to Rs 71 crore in the previous fiscal year.