Bellevue-based contract management software company Icertis now has about 2,000 employees globally, according to co-founder and CEO Samir Bodas.
The company had about 1,400 in March 2021, when Icertis raised its $80 million Series F round. Bodas said despite the growing headcount, Icertis plans to reduce its office space when the company's lease expires next year.
"The office space will change. We will create more collaboration areas," Bodas said. "We will need less space, and that space will not be desks and chairs for people to work, but for people to collaborate and visit."
Bodas said Icertis offers different work models for employees, ranging from coming into the office most of the time to working remote most days. He added that the company tries to make fun excuses for employees to work in person, like brainstorming sessions. Icertis' off-sites usually include half the time dedicated to activities besides meetings, like a game or a sport.
On Thursday, Icertis announced Rajat Bahri has been hired as chief financial officer. He replaces Curt Anderson, who is leaving after four years in the role. Bahri is joining Icertis from the Virginia-based identity management company ID.me, where he was also CFO.
Icertis, founded in 2009, helps clients manage contracts with employees, suppliers and customers. Its clients include Best Buy and Microsoft.
Bodas said Icertis ended last year with annual recurring revenue of $150 million. In January, the company received an investment from the German software giant SAP SE but didn't disclose the size of the investment. An Icertis spokesperson at the time confirmed the company had received an investment from SoftBank in early October that valued Icertis at $5 billion. Bodas said Icertis and SAP had been competitors for years, but SAP recently decided to stop competing and start collaborating with Icertis instead.
Despite the high value and new CFO, Bodas said Icertis doesn't have immediate plans for an initial public offering.
"An IPO is like hitting your 21st birthday," Bodas said. "You get to the legal age. You party. That's it. And then you have 79 years ahead of you, don't forget. Party, but remember you have 79 years to go. So I think we'll have that party one day in several years, but we are focused on the 79 years."
