Icertis names Anand Subbaraman as new CEO, co-founder Samir Bodas transitions to Executive Chairman

Anand - Headshot

AI-based contract intelligence software firm Icertis has announced a leadership transition as the firm’s co-founder and long-time CEO Samir Bodas is stepping down after more than 15 years at the helm. He will take on the role of Executive Chairman, with Anand Subbaraman, the current Chief Operating Officer, stepping in as the new Chief Executive Officer.

The move comes as Icertis with $350 million in annual recurring revenue (ARR), enters its next phase of growth, leveraging deep partnerships with Microsoft, SAP, and global consulting firms.

“We’re tilting the entire company to be AI-first in contracting. Our unique data lake of over 15 million contracts gives us the ability to sharpen LLMs in ways no one else can…With agentic AI and workflows, we aim to fundamentally change how enterprises manage contracts, from automation to strategic insights, to reducing contract leakage and maximizing revenue,” Subbaraman told Moneycontrol.

Subbaraman brings over 25 years of global tech leadership experience, having held senior roles at BrowserStack, Oracle, and Finastra. His background in product management, cloud transformation, and enterprise SaaS aligns with Icertis’ push to lead the AI-powered contract lifecycle management (CLM) category.

The company said the leadership change reflects a broader shift in the enterprise tech landscape, where product-first, tech-native CEOs are increasingly taking charge to drive innovation and AI-led growth.

“Icertis is at an inflection point,” said Bodas. “Anand’s deep product DNA and proven execution make him the ideal leader to guide the company into its next chapter.”

The leadership shift also comes amid speculation about Icertis' IPO plans. While the company has not confirmed a timeline, it has said in past interviews that it operates with the discipline of a public company.

“We are extremely well-capitalized and profitable, with strong double-digit growth. Our focus is on building an enduring company, the IPO will follow when the time is right,” Subbaraman said.

Icertis was founded in 2009 by Samir Bodas and Monish Darda. Headquartered in Bellevue, Washington, the company pioneered AI-powered contract lifecycle management.

It has raised over $380 million from top-tier investors including SoftBank, B Capital Group, Greycroft, SAP, and Premji Invest. Icertis entered the unicorn club in 2021 and was last valued at around $2.8 billion.

In March 2025, Icertis filed a Form D with the US Securities and Exchange Commission (SEC), indicating plans to raise $50 million from investors.

This came ten months after reports said the firm is in talks to raise $150 million in funding.

In 2022, Icertis announced raising $150 million which comprised of a revolving credit facility and convertible financing from Silicon Valley Bank. The company did not disclose the names of the investors in the filing.

Its contract management solutions are used by global enterprises like Microsoft, Johnson & Johnson, and Mercedes-Benz, managing contracts worth over $1 trillion across 90+ countries.

“Our goal is simple: become the first billion-dollar company in contract intelligence. With our AI capabilities, product strength, and strategic partnerships, we believe it’s within reach,” Subbaraman added.