Icertis Replaced CEO Following Misconduct Allegations
SaaS firm Icertis has replaced its CEO, Anand Subbaraman, after whistleblower allegations of favoritism and misconduct prompted a board investigation. The company is now seeking a new leader.
SaaS company Icertis has transitioned its CEO, Anand Subbaraman, to an advisory role following allegations of misconduct, inappropriate behavior, and favoritism. The company's board of directors initiated an investigation after receiving a whistleblower complaint in May.
Subbaraman stepped down on July 17 without a stated reason, but reports indicate the investigation preceded his departure. Icertis CFO Rajat Bahri and board member Jim Moffatt have been appointed as interim co-CEOs while the company searches for a permanent replacement.
Subbaraman joined Icertis in 2024 as COO and became CEO in August 2025. Founded in 2009, Icertis provides enterprise contract management services globally. While headquartered in the U.S., the company has Indian founders and a significant operational presence in India.
Icertis has raised $516 million in funding from investors including SoftBank. The company's most recent funding round was $50 million in March, and its valuation stood at approximately $5 billion in 2022.