Anand Subbaraman named CEO as Icertis nears USD $350 million
The company, known for its focus on AI-powered contract intelligence, was co-founded in 2009 by Samir Bodas and Monish Darda. Over more than a decade, Icertis has expanded its footprint in the enterprise contract management sector, reporting annual recurring revenue approaching USD $350 million.
Samir Bodas, who has led the organisation as CEO for over 15 years, will now assume the role of Executive Chairman. He has overseen the firm's evolution from start-up to a provider whose solutions are reportedly used by more than one third of the Fortune 100. According to the company, under Bodas's leadership, Icertis illuminated the strategic importance of contracts in digital transformation efforts across industries, fostering partnerships with cloud providers and large systems integrators. "In the age of 'AI everything', where technology is transforming both companies and whole industries, Anand's extensive experience in building amazing products, operational depth in delivering to customers at scale, and core values grounded in FORTE make him an ideal fit to take Icertis into the future. Over the last 15 years, we have built category-defining products to help our customers derive exceptional value by transforming their end-to-end contracting – the foundation of all commerce. As I focus on my health, the time is right for Anand to step into the CEO role and take Icertis to the next level. I look forward to partnering closely with him as we continue to launch breakthrough innovations," said Samir.
Anand Subbaraman brings over 25 years of international experience in enterprise software, having worked at companies including Oracle, BrowserStack, and Finastra. Since joining Icertis as Chief Operating Officer, Subbaraman has overseen several core business functions and been credited with enabling the company's push into AI and deepening key strategic partnerships. "Enterprise technology sits at a critical inflection point, and Icertis continues to deliver unique and differentiated contact intelligence through our vast data assets, contract-specific AI, agents and co-pilots, and our Contract Intelligence platform to create fast, measurable ROI for customers. I am honoured to lead Icertis and our incredible team of Icertians to realize the company's bold vision for the future of commerce – powered by contract intelligence," said Anand.
Penny Pritzker, the Lead Independent Icertis Director, commented on the leadership transition and the company's long-term outlook in the current technological landscape. "As global commerce is reinvented in today's business landscape, trust and agility in relationships has never been more critical. Icertis is transforming how the world's most vital commercial relationships are negotiated and managed – and setting the standard for innovation at a pivotal moment. Icertis is uniquely positioned to lead the next wave of enterprise AI by elevating contracts as one of the most powerful business assets in every industry. I am confident in Anand's ability to take the helm and advance the company's mission," said Penny Pritzker.
The Icertis Contract Intelligence platform aims to provide organisations with a centralised system for managing customer, supplier, and partner contracts. The system is intended to streamline analytics and operations, with the goal of helping businesses realise financial and operational efficiencies while meeting compliance requirements.
The company reports that its platform delivers analytics, operations, and performance management in a single system, offering insights intended to enhance negotiations and maximise post-signature value. With customers in more than 90 countries, Icertis states it supports millions of business relationships across global industries.
Follow us on:
Share on:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Techday NZ
2 days ago
- Techday NZ
Emerging cyber threats for 2025 target healthcare & industry
New research from Secureframe has identified the five most significant emerging cyber threats for 2025, focusing on the risks posed to critical sectors including healthcare, infrastructure, and small and medium-sized businesses. The report by Secureframe analyses recent high-profile breaches along with global threat trends and highlights an environment increasingly shaped by AI-driven attacks, organised cybercrime groups, and the rapid exploitation of newly discovered vulnerabilities. Rising threats across sectors Findings within the report indicate ransomware attacks on industrial operators grew by 46% in the first quarter of 2025 alone. Healthcare breach costs have reached an average of USD $5.3 million per incident, marking a 25% increase above the next closest industry. AI-driven criminal tools are enabling the widespread use of advanced phishing schemes, deepfakes, and malware that adapts to targets in real-time. Supply chain vulnerabilities are also being targeted more frequently by cybercriminals, with third-party vendor breaches now a primary vector for large-scale attacks. One cited example was the collapse of the 158-year-old KNP Logistics due to a ransomware incident, underscoring the real-world impact on businesses of all sizes. Organised cybercrime syndicates The report lists organised criminal networks as the number one threat, noting that these groups are expanding their activities through tools such as automation and ransomware-as-a-service platforms. LockBit is highlighted as an active player despite international efforts to dismantle such organisations, while new groups, including Interlock, are emerging to mimic these operations. AI-powered attacks Attackers are leveraging generative AI to craft realistic phishing lures, create deepfakes, and generate malware that adapts in real-time. In one case, AI-generated content helped defraud over 500,000 investors in the JuicyFields scam. Such developments signify a shift in the sophistication of cyber threats, demanding equally advanced detection and response capabilities. Advanced persistent threats Nation-state actors are intensifying long-term, covert attacks primarily targeting energy providers and defence contractors. Groups such as APT33 and APT39 were particularly active across North America and Europe in 2025, with campaigns designed to evade traditional security measures for months at a time. Zero-day vulnerabilities The research outlines that previously unknown and unpatched weaknesses are being exploited at a record pace. An example in 2025 was a critical flaw in Microsoft SharePoint (CVE-2025-53770) which was actively targeted globally before vendors released a remedy. Software supply chain attacks Third-party software platforms are being leveraged as a point of entry for cyberattacks against broader enterprise ecosystems. Secureframe notes that attacks involving compromised SAP SuccessFactors providers resulted in breaches extending into sectors from healthcare to consumer goods. Industry-specific warnings The healthcare sector is seen as especially vulnerable. The report states: "With 92% of organizations reporting attacks in 2024, the sector must prioritize HIPAA-compliant training and secure offline backups." Critical infrastructure operators in the defence and energy fields are advised to implement the NIST 800-172 and CMMC 2.0 frameworks to respond to escalating threats from nation-state actors. Financial services continue to face risks associated with investment fraud and business email compromise, prompted by increasingly refined social engineering attacks. Mitigation strategies Secureframe's report includes a recommended 10-step cybersecurity playbook designed to align with NIST CSF 2.0 and ISO 27001 standards. Suggested actions consist of emergency patching, multi-factor authentication enforcement, privileged account monitoring, third-party vendor assessments, continuous threat detection, and regular employee phishing simulations and tabletop crisis exercises. Methodology The findings were generated through the examination of cybersecurity incidents across multiple industries, using case studies of attacks on healthcare organisations, infrastructure systems, and large corporations during 2024 and 2025.
Techday NZ
2 days ago
- Techday NZ
Datadog Q2 revenue jumps 28 per cent to USD $827 million on AI, cloud demand
Datadog has reported its financial results for the second quarter of 2025, posting a 28 per cent year-over-year increase in revenue to USD $827 million. The company's growth in the quarter was attributed to the expansion of its customer base, particularly among larger organisations. Datadog disclosed that it now has approximately 3,850 customers with annual recurring revenue (ARR) of USD $100,000 or more, up 14 per cent from roughly 3,390 such customers a year ago. Customer growth The second quarter saw continued traction among enterprise clients and organisations scaling their use of Datadog's cloud monitoring and security platform. This expansion was reflected not only in revenue growth, but also in key operational metrics. Highlighting the quarter, Datadog introduced more than 125 new products, capabilities, and features. These were showcased during the company's user conference, DASH. "Datadog had a strong second quarter, with 28 per cent year-over-year revenue growth, USD $200 million in operating cash flow, and USD $165 million in free cash flow," said Olivier Pomel, Co-Founder and Chief Executive Officer of Datadog. Pomel also noted, "At our DASH 2025 user conference, we showcased our rapid pace of innovation, announcing over 125 new innovations to help our customers observe, secure, and act on their complex cloud environments and AI tech stacks." Financial performance For the three months to June 30, 2025, Datadog's GAAP operating loss was USD $(36) million, with a GAAP operating margin of (4)%. The company reported non-GAAP operating income of USD $164 million and a non-GAAP operating margin of 20 per cent for the quarter. GAAP net income per diluted share stood at USD $0.01, while non-GAAP net income per diluted share reached USD $0.46. Datadog's operating cash flow for the quarter was USD $200 million, with free cash flow of USD $165 million. The company ended the period with USD $3.9 billion in cash, cash equivalents, and marketable securities. Product and business highlights Datadog advanced its offerings with key launches including the roll-out of its full range of products and services in the Amazon Web Services' Asia-Pacific (Sydney) Region, building on its presence in North America, Asia, and Europe. The company introduced three new AI agents - Bits AI SRE, Bits AI Dev Agent, and Bits AI Security Analyst - to support interactive investigations and asynchronous code fixes across operations, development, and security functions. Additional product releases included Archive Search, FlexFrozen, and CloudPrem in the log management suite. These are aimed at optimising logging costs and meeting stringent data requirements for regulated industries. The Internal Developer Portal was launched as the first developer portal built on live observability data, and new security products - Code Security, Bits AI Security Analyst, and Workload Protection - were introduced to address security across cloud and AI environments. Datadog also unveiled new capabilities for AI operations, such as AI Agent Monitoring, LLM Experiments, and AI Agents Console, which provide end-to-end visibility and governance of AI agents. From its AI Research division, the company announced Toto, an open-weights model trained with internal observability data, and BOOM, a time series benchmark for observability metrics. Recognition and compliance Among other developments during the quarter, Datadog was named a Leader in the Gartner Magic Quadrant for Observability Platforms for the fifth consecutive year. The company also joined the S&P 500 Index and was added to both the Forbes Global 2000 and the Forbes Global 2000 United States Lists for 2025. In regulatory and compliance moves, Datadog announced progress towards attaining Federal Risk and Authorization Management Program (FedRAMP) High authorisation, which would enable federal agencies to use its monitoring and security products in line with strict compliance standards. Guidance for 2025 Datadog provided its outlook for the third quarter and the full fiscal year 2025. For the third quarter, the company expects revenue between USD $847 million and USD $851 million, and non-GAAP operating income between USD $176 million and USD $180 million. Full year 2025 revenue is projected to be between USD $3.312 billion and USD $3.322 billion, with non-GAAP operating income in the range of USD $684 million to USD $694 million. Non-GAAP net income per share for the full year is expected to be between USD $1.80 and USD $1.83, based on approximately 364 million weighted average diluted shares outstanding.
Techday NZ
2 days ago
- Techday NZ
Oracle launches global Exadata service for AI & analytics
Oracle has launched its Globally Distributed Exadata Database on Exascale Infrastructure, providing businesses with a new approach to deploying mission-critical applications and agentic AI workloads across various cloud regions while meeting local data residency requirements. Service features The recently available service is designed to support organisations as they manage high-availability applications and extensive global operations. Key aspects include automated data distribution and synchronisation across multiple sites, ensuring continued operation during regional outages. The service is intended to enable companies to deploy workloads, including those requiring real-time analytics, transactional capacity, and agentic AI processing, without complex configuration or management tasks. Oracle states that the solution utilises a flexible, serverless architecture, allowing resources to scale in response to fluctuating workloads. Pricing is presented as simple and based on the number and types of virtual machines and storage selected, which the company says gives customers clear visibility of operational costs without hidden charges. Industry adoption PayPal has used Oracle Exadata for years to maintain performance consistency and critical system uptime. Akash Guha, Director of Database Engineering at PayPal, explained the company's plans for the new service: "Providing exceptional customer satisfaction is important to PayPal, so we've been using Oracle Exadata for many years to provide lightning-fast response times and mission-critical availability. As our global business grows, we plan to provide even faster responses by using distributed solutions that are integrated with our core systems of record to provide extreme availability and performance. We look forward to using Oracle Globally Distributed Exadata Database on Exascale Infrastructure's always-on, serverless architecture with built-in Raft replication to accelerate responses, enable greater application resilience, and lower costs with scalable resources." Technical benefits The new offering contains several mechanisms aimed at addressing the main requirements of agentic AI and global applications. These include high performance for large workloads and vector search, always-on availability through Raft replication and fault-tolerant architecture, support for data residency and sovereignty, and cost-efficiency through hyperscale, serverless implementation. Wei Hu, Senior Vice President, High Availability Technologies at Oracle, commented on the challenges faced by customers aiming to distribute databases at scale: "Customers often struggle to deploy and manage distributed databases due to the high cost and complexity involved in operating large numbers of servers across multiple data centres and regions. Oracle Globally Distributed Exadata Database on Exascale Infrastructure's serverless architecture enables customers of all sizes to meet their diverse requirements at a low cost. Today, we are providing a mission-critical distributed database to the masses." Oracle notes that the system naturally supports the full Oracle Database and SQL capabilities, enabling clients to distribute resources to multiple locations with minimal modifications to existing applications. Workload support The Globally Distributed Exadata Database on Exascale Infrastructure has been designed with several specific use cases in mind. Its active/active/active architecture supports mission-critical processes such as payments, eCommerce, and securities trading by maintaining synchronised data across multiple centres. Automated data distribution policies allow enterprises in finance and healthcare to meet regulations on data sovereignty. User proximity features enable companies in sectors like retail, telecommunications, and healthcare to reduce latency by storing data closer to end users. Petabyte-scale analytics functionality provides for real-time streaming and processing, vital for manufacturing and utility industries, and the infrastructure's online transaction processing (OLTP) capability supports millions of transactions with low latency for AI-driven and analytic workloads. AI and data perspectives Holger Mueller, Vice President and Principal Analyst at Constellation Research, said: "In the age of AI, especially agentic AI, customers need a new approach to allow for vector processing across distributed global applications. Oracle Globally Distributed Exadata Database on Exascale Infrastructure incorporates Exadata's extreme performance for AI processing and availability for the core back-end systems that implement agent-initiated tasks, while Exascale's hyper-elastic and pay-per-use capabilities makes it very cost-effective. With this service from Oracle, CIOs can confidently deploy agentic AI and mission-critical applications globally and meet local data residency requirements." According to Oracle, by overcoming barriers related to performance, data sovereignty, cost, and elastic scalability, the service aims to appeal to a range of industries where operational continuity, data compliance, and processing performance are mandatory.
