Anand Subbaraman is departing as CEO of Icertis, the Bellevue, Wash.-based contract administration software program firm stated Friday. Chief Monetary Officer Rajat Bahri and longtime government and Icertis board member Jim Moffatt will function interim co-CEOs as Icertis searches for its subsequent CEO.
Subbaraman took the helm in August 2025 when Icertis co-founder Samir Bodas stepped down. Bodas had been the corporate’s solely CEO since launching the enterprise in 2009. Bodas shared on the time that he was resigning as a consequence of a well being concern, and handed away in January after a battle with most cancers.
Subbaraman, who joined Icertis in 2024 as chief working officer, will function an advisor throughout the management transition. No motive was offered for his exit. We’ve requested the corporate for additional particulars.
“We’re grateful for Anand’s service and his work to increase the corporate’s AI capabilities and scale operations,” Moffatt stated in a press release. “As our Board conducts its seek for the following CEO, Rajat and I’ll guarantee we don’t miss a beat throughout this necessary time for our firm.”
Based in 2009, Icertis has raised greater than $500 million and was valued at $5 billion 4 years in the past. Its traders embrace SoftBank’s Imaginative and prescient Fund, SAP and PSP Companions, the agency chaired by lead impartial director Penny Pritzker.
Bloomberg reported in February that Icertis was working with Goldman Sachs to discover a possible sale that might worth the corporate at as a lot as $5 billion, citing individuals acquainted with the matter. Buyout companies had proven preliminary curiosity, and no ultimate choice had been reached, in accordance with the report.
The corporate stated Friday that Bahri will maintain twin roles as interim co-CEO and CFO. He joined Icertis in 2022 and beforehand served as CFO at a number of corporations, together with ID.me; Want, the place he helped lead the corporate’s IPO; and Jasper Applied sciences.
Moffatt has served on the Icertis board since 2022, after beforehand serving on its advisory board, and is a member of the board’s audit and compensation committees. He has additionally been appointed chair of the board, along with his interim management position. Moffatt spent greater than 35 years at Deloitte, leaving the corporate as vice chairman and international CEO of Deloitte Consulting. He’s now president of JSM Advisors.
