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Software-as-a-Service (SaaS) company <keyword id="1836134" type="General" weightage="100" keywordseo="icertis" source="Orion">Icertis</keyword> on Monday said it has secured $150 million in funding comprised of a revolving credit facility and convertible financing from Silicon Valley Bank. Icertis said that the funds will enable it to further extend the company's leadership position in the Contract Lifecycle Management (CLM) category by accelerating the application of transformational technologies like artificial intelligence, machine learning, and <keyword id="6355684" type="General" weightage="50" keywordseo="blockchain" source="Orion">Blockchain</keyword> to deliver material, unique, and consequential value to customers. "We continue to see strong momentum with our clear value proposition as we help customers become more agile, drive efficiencies, and respond to market challenges like inflation, sanctions, economic slowdown, and supply chain disruptions," said <keyword id="15395939" type="General" weightage="50" keywordseo="rajat-bahri" source="Orion">Rajat Bahri</keyword>, <keyword id="53346" type="General" weightage="50" keywordseo="cfo" source="Orion">CFO</keyword> of Icertis. "This new funding from Silicon Valley Bank is a major vote of confidence in our growth trajectory, enhancing our already strong capital position, and enabling us to lean in to capture market share and build towards the next exciting chapter in our company's journey," he said in a statement. The Icertis Contract Intelligence platform helps companies structure critical commercial, legal, and operational data within contracts and connect that data to surrounding procurement, ERP, HCM, and CRM systems. According to MGI Research, the category total addressable market for CLM will increase to $30 billion in the next five years. "Understanding and harnessing the underlying data can drive material business impact to a wide range of enterprises. We're proud to support the Icertis team as they build an enduring and industry leading enterprise software company," said Bob Blee, Head of US Technology Corporate Banking at Silicon Valley Bank. Icertis handles more than 10 million contracts worth more than $1 trillion in over 40 languages and more than 90 countries. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-reports-89-yoy-increase-in-q2-net-profit-to-2145-crore/articleshow/95207348.cms">Bharti Airtel reports 89% YoY increase in Q2 net profit to ₹2,145 crore</a> <a href="https://www.businessinsider.in/finance/news/rbi-measures-controlled-inflation-but-challenges-remain-say-economists/articleshow/95201223.cms">RBI measures controlled inflation, but challenges remain say economists</a> <a href="https://www.businessinsider.in/careers/news/number-of-gig-workers-earning-over-85000/month-rose-over-60-since-last-october-report/articleshow/95208221.cms">Number of gig workers earning over ₹85,000/month rose over 60% since last October: Report</a>

Icertis raises $150 million to boost contract lifecycle management business

<ul><li><keyword id="1836134" type="General" weightage="20" keywordseo="icertis" source="Orion">Icertis</keyword> is exploring options for Nasdaq listing in the US for sometime next year.</li><li>The company aims to double its valuation to $6 billion, as per sources aware of the development.</li><li>The company counts Google, Microsoft, Johnson &amp; Johnson, Infosys, Wipro and Cognizant as its customers. </li></ul>Software-as-a-service (SaaS) firm Icertis is holding serious discussions to hit the public markets by the end of 2022. Pune and Seattle-headquartered company — valued at $2.8 billion — is considering to go for an initial public offering (IPO) in the United States sometime next year, Icertis’ cofounder and chief technology officer (CTO) Monish Darda told Business Insider. The company counts Google, Microsoft, Daimler, Airbus, Johnson &amp; Johnson, Lupin, Infosys, Wipro and Cognizant as its customers. A Nasdaq listing is the top priority of the company, which offers contract management solutions to businesses, at the moment. Though Darda did not share details like the amount the company plans to raise or the valuation it is looking to list at, people aware of the development told Business Insider that Icertis plans to double its valuation to $6 billion by next year with this public issue. Darda clarified that Icertis is ready to hit the public market in terms of its business growth, however the plan still hinges on two major developments. First, the growth of the business by next year. Second, the economic situation globally. Regardless, the company is open to raising capital through both private as well as public markets depending on the economy and the COVID-19 situation. <div type="ExtQuote" text="“If we need a round, with our valuation and our revenue, we always have an option of going public, so we'll evaluate that as well. So there are a couple of things we could do next year in terms of, you know, how we move, we can raise another round and you know, defer going public. Or we could choose the path of going public as well.”" auname="— Monish Darda, co-founder and CTO of Icertis, told Business Insider."></div> Last week, another Indian <keyword id="9231180" type="General" weightage="20" keywordseo="saas-company" source="Orion">SaaS company</keyword> Freshworks<a href="https://www.businessinsider.in/enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million/articleshow/85707900.cms"> filed </a>for an IPO in the USA, seeking permission to list on Nasdaq. It is looking to raise $100 million. Founded in 2009 by Darda and Samir Bodas, Icertis’ flagship product ‘Icertis Contract Intelligence (ICI)’ manages over 10 million contracts with an aggregate value of more than $1 trillion. Icertis added 70-100 customers in 2020 and 100 customers in the first half of 2021. It plans to add over 100 customers by the end of 2021. “I think what is interesting is that the last four quarters have been successively the best quarters we've ever seen in Icertis. We have beaten every quarter, every year. So the last two quarters, January-February-March and April-May-June. April-May-June has been the best quarter in the history of Icertis,” Darda added. Icertis claims to have a revenue between $100 million to $200 million, growing at 60-70% rate annually. The 12-year-old company raised<a href="https://www.businessinsider.in/tech/enterprise/news/icertis-raises-80-million-in-series-f-funding-and-triples-valuation-in-less-than-two-years/articleshow/81450882.cms"> $80 million</a> in March this year to add more customers as well as develop more products for its existing customers. Overall, the company has raised $291 million to date from marquee investors like B Capital, PremjiInvest, Greycroft, Meritech Capital Partners, and PSP Growth. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tata-power-bharat-forge-bharti-airtel-and-other-top-stocks-to-watch-out-for-on-august-31/slidelist/85786005.cms">Tata Power, Bharat Forge, Bharti Airtel and other top stocks to watch out for on August 31 </a> <a href="https://www.businessinsider.in/stock-market/news/ami-organics-wants-to-become-debt-free-post-the-ipo/articleshow/85781458.cms">Ami Organics wants to become debt-free post the IPO, to cut dependence on China in the coming years</a> <a href="https://www.businessinsider.in/defense/news/a-us-f-22-raptor-pilot-describes-the-challenge-of-going-up-against-f-35-red-air-aggressors/articleshow/85784261.cms">A US F-22 Raptor pilot describes the challenge of going up against F-35 red air aggressors</a>

After Freshworks, Icertis is looking for an IPO for next year in the US

<ul><li>The Pune-based company said that it was valued at over $2.8 billion dollars.</li><li><keyword id="1836134" type="COMPANY" weightage="20" keywordseo="Icertis">Icertis</keyword> said it will be using this money to invest in <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword> and blockchain development.</li><li>The startup, which was founded in 2009 by Samir Bodas and Monish Darda, has raised over $280 million in private market funding till date.</li></ul>The Indian startup that helps bigwigs like <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>, <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword> manage their contracts just bagged $80 million (around ₹580 crore) in its series F round of funding. Pune and Seattle-based Icertis is a startup that uses artificial intelligence (AI) and machine learning (ML) to manage contracts on the cloud. Rather than keep track of compliance or payments on paper, everything is managed automatically by the company’s contract intelligence software-as-a-service (SaaS). The company said that it was valued at over $2.8 billion dollars (around ₹20,000 crore at current rates) in a press statement. The tech unicorn claims that its valuation tripled compared to July 2019, when it raised the series E round. <div type="Article" hostid="261" msid="79640659" title="EXCLUSIVE: This Indian unicorn helping Google, Microsoft and Apple manage their contracts is hiring⁠— it needs techies as well as people in sales" mstype="2" mssubtype="0"></div> The company, which was founded in 2009 by Samir Bodas and Monish Darda, has raised over $280 million in private equity funding till date. The latest funding round was led by existing investor B Capital Group, along with investors Premji Invest, PSP Growth, Greycroft, Meritech Capital Partners, and e.ventures. The firm said it will be using this money to invest in “accelerating AI (artificial intelligence) and blockchain development.” It also added that it will also utilise the funds to expand its sales and marketing efforts. In an exclusive<a href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms"> interview</a> with Business Insider last year, Darda, co-founder and chief technology officer (CTO) of Icertis had said that they will continue to hire aggressively to support their growth and expect the firm to increase its headcount 30% to 40% in 2021. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms">EXCLUSIVE: This Indian unicorn helping Google, Microsoft and Apple manage their contracts is hiring⁠— it needs techies as well as people in sales</a> <a href="https://www.businessinsider.in/tech/news/indias-new-cybersecurity-framework-needs-to-be-more-robust-in-order-to-be-effective-according-to-experts/articleshow/81448577.cms">It has taken over 7 years for India to revamp its cybersecurity policy — experts say there's room for carrots and sticks but not surveillance</a> <a href="https://www.businessinsider.in/tech/enterprise/news/gartner-forecasts-ai-will-replace-investor-gut-feel-in-stock-market/articleshow/81442285.cms">Gartner predicts 75% of VCs will be using AI instead of their ‘gut feel’ to make decisions by 2025 — a path that companies are already discovering</a>

This Pune-based startup has tripled its valuation in less than two years

<ul><li><keyword id="1836134" type="COMPANY" weightage="20" keywordseo="Icertis">Icertis</keyword>, which caters to the likes of <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword>, Airbus, <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and Best Buy, plans to increase its headcount by 30% to 40% in 2021. </li><li>Most of this hiring will be done for engineering and sales. </li><li>The uptake of employees comes as Icertis’ looks to move beyond its enterprise clients and focus on the mid-market segment. </li></ul>Icertis, the billion-dollar unicorn based out of Pune in India, which manages contracts for bigwigs like Apple, Airbus, Microsoft and Best Buy has plans to increase its headcount by at least 30% in 2021. Over the last year, the company has added over 300 employees globally, with at least 50 being hired from Indian campuses. Before 2020 comes to an end, Icertis intends to add another 200 employees to its <a href="https://www.owler.com/company/icertis#:~:text=Icertis%20has%201%2C300%20employees%20and,among%20it's%20top%2010%20competitors.">1,300-strong</a> headcount. “We’ll continue to hire aggressively to support our growth and expect to increase our headcount 30% to 40% in the next year,” co-founder and chief technology officer (CTO) of Icertis, Monish Darda, told Business Insider in an exclusive interview. This means onboarding at least 450 new faces in 2021. The development at a time when the startup has plan to shift its focus on bringing more mid-market customers. The challenge there is that it takes at least 10 to 15 clients from that segment to bring the same amount of revenue as an enterprise client. Software companies need to sell For those who aren’t familiar with Icertis, the startup used artificial intelligence (AI) and machine learning (ML) to manage contracts on the cloud. Rather than keep track of compliance or payments on paper, everything is managed automatically by the company’s <keyword id="10399864" type="UNKNOWN" weightage="20" keywordseo="contract-intelligence">contract intelligence</keyword> software-as-a-service (SaaS). And, as a SaaS company, Darda believes being able to sell your product is a necessity for growth. “If you cannot sell, that’s the end of the company when you’re smaller… The ability to sell is critical for any company especially for an enterprise Saas company which is dependent on companies renewing every year — it’s not a perpetual license,” he explained. On the hunt for hunters and farmers According to Darda, there are two types of salespeople — hunters and farmers. Hunters go out and convince the customer to buy new software like Icertis. Farmers, on the other hand, reach out to clients that already have Icertis and grow the business by uncovering new ways and new value for the customer. “When we hire, we hire at different levels. Experienced people for large accounts and people who may be capable of doing that a mid-level. This allows you to expand that pyramid and sell better,” explained Darda. Former Airbus and BMW procurement honcho <a href="https://www.prnewswire.com/news-releases/icertis-adds-former-airbus-and-bmw-chief-procurement-officer-dr-klaus-richter-to-board-of-advisors-301178658.html">Klaus Richter</a>, for instance, has recently joined Icertis’ advisory board and can be profiled as a hunter. “He brings in a lot of raw experience into the company in how to cater to large deals,” according to Darda. The freshers come in on the analytics side of sales. Their role is to rummage through raw data to figure out how sales are performing and what lies ahead to improve the efficiency of sales. Cloud development is a skill that you have or don’t Sales can help you expand your business but you need engineers to stay ahead of the competition. When Darda first joined Icertis, the first line of code he wrote was on Azure. And, the entire company is built on the cloud. According to him, cloud development is a skill that people have or don’t have. Candidates need to be able to think ten steps ahead and be proficient at what’s called ‘defensive programming’. “How do you think about a problem and how do you solve a problem? Do you take care of what will happen under five different scenarios,” he explained. And, since Icertis is a contract ‘intelligence’ company the value of having the basic computer skills to navigate the Microsoft Stack and the AI/ML stack, which consists of languages like R and Python, is a bare necessity. Icertis was among the <a href="https://economictimes.indiatimes.com/jobs/iit-roorkee-receives-7-international-offers-until-day-3-of-placement/articleshow/79547532.cms">seven international companies</a> to dole out a placement offer at IIT Roorkee. And, the secret sauce to getting selected — more than the clout of being good at coding — is ‘elasticity’. “The most important aspect that we look for is elasticity — how can people learn, especially when we’re hiring young people fresh out of college with very little industry experience,” said Darda. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tata-group-company-voltas-is-telling-analysts-that-it-may-hike-ac-prices-by-3-4-to-cover-rising-input-costs/articleshow/79624340.cms">Voltas is telling analysts that it may hike AC prices by 3-4% to cover rising input costs</a> <a href="https://www.businessinsider.in/science/environment/news/mount-everest-taller-by-2-8-feet-as-nepal-and-china-set-aside-their-differences/articleshow/79622601.cms">Mount Everest is 2.8 feet taller as China and Nepal finally agree on the height of the world's highest peak</a>

EXCLUSIVE: This Indian unicorn helping Google, Microsoft and Apple manage their contracts is hiring⁠— it needs techies as well as people in sales

<ul><li>India’s first gaming unicorn Dream11 is looking to hire 250 people over the year, while Icertis has 180 positions it's looking to fill. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> has built a virtual internship program to onboard its campus recruitments, while Walmart Labs has promised to hire 2800 people in India. </li><li>The <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> comes in even when major companies and startups are laying off employees.</li></ul>With the coronavirus pandemic, markets across the world have crashed and even the likes of <a href="https://www.businessinsider.in/stock-market/news/when-warren-buffett-feels-fear-global-markets-quake/articleshow/75538855.cms">Warren Buffet </a>are holding on to fear. In India, companies across sectors have been cutting corners and much reluctantly announcing job cuts, pay cuts for hundreds of thousands of employees. But all hope is not gone. Many in India have announced their plans to hire and the tech community is the latest to join in to say they have big plans for the year despite the challenges from the coronavirus pandemic. <div type="Article" hostid="261" msid="75525940" title="Goldman Sachs, Deloitte, EY and other top audit firms hiring this week" mstype="2" mssubtype="0"></div> India’s first gaming unicorn Dream11 is looking to hire 250 people over the year. The parent company Dream Sports has already hired 80 since January 2020 and is employing across brands like Dream11 (over 180 positions), FanCode and DreamX. The majority of the hiring is for technology, design and product teams. Another unicorn Icertis – the contract management startup is looking to hire 180 people over the year. Monish Darda, co-founder &amp; CTO of Icertis, believes that this is the time when companies can sit up and turn things around. “Even if you look in the past, even though the crisis has not been something like Covid19, companies that have been fundamentally strong and have entered the crisis with a lot of dry powder, have done extremely well while coming out of it. We have been fortunate because we raised funds also last year,” Darda told Business Insider. He added that once you have moved past the first few stages of the crisis, you think of how you can be more fundamentally strong in terms of business processes. “For us this is an opportunity to grow and identify which areas of the business are not affected and grow in that direction, so we have positions open across the board,” he said. Virtual internships begin For thousands of graduates of colleges, this was the time to join their campus placement or an internship. While many companies had cancelled offers, some companies are <a href="https://www.businessinsider.in/careers/news/goldman-sachs-reliance-samsung-and-others-onboarding-interns-virtually-during-the-lockdown/articleshow/75526863.cms">now onboarding virtual interns. </a> Walmart Labs, the innovation wing of Walmart, which has announced that it will hire 2800 employees in India has also been actively hiring interns virtually. Indian ride hailing unicorn Ola too has been bringing on board its campus internship recruitments. Ola bets heavy on its internship programs. In fact, one of its most popular features – Ola Auto was actually suggested by an intern. <div type="image" title="Rohit&amp;#39;s session_Intern induction" msid="75551773" hostid="261" caption="&amp;lt;p&amp;gt;Ola&amp;#39;s virtual intern induction session&amp;lt;/p&amp;gt;"></div> “We have virtually onboarded 38 candidates from prestigious MBA schools like IIM Ahmedabad, IIM Bangalore, FMS, XLRI among others as part of our internship program working across verticals like mobility, electric mobility, financial services and international business,” Rohit Munjal. CHRO, Ola told Business Insider. See Also: <a href="https://www.businessinsider.in/business/corporates/news/both-silver-lake-and-mukesh-ambani-hope-that-reliance-jio-will-replicate-alibabas-magic-and-this-time-zuckerberg-will-get-a-chunk/articleshow/75548041.cms">Both Silver Lake and Mukesh Ambani hope that Reliance Jio will replicate Alibaba's magic⁠ — and this time Zuckerberg will get a chunk</a> <a href="https://www.businessinsider.in/business/startups/news/covid-19-threatens-to-kill-co-working-but-the-owners-believe-it-will-only-get-cheaper-and-better/articleshow/75546871.cms">Covid-19 threatens to kill co-working ⁠— but the owners believe it will only get cheaper and better</a>

Hiring now! Walmart, Dream11, Ola and Icertis – and they need both full-time staff as well as interns

<ul><li>SaaS platform <keyword id="1836134" type="COMPANY" weightage="20" keywordseo="Icertis">Icertis</keyword> has raised $115 million, and is the latest entrant into the <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> club. </li><li>The startup has raised the funding from <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s <keyword id="648852" type="COMPANY" weightage="20" keywordseo="Premji-Invest">Premji Invest</keyword> and US-based VC firm Greycroft.</li><li>Earlier in June, another SaaS platform <keyword id="741520" type="COMPANY" weightage="20" keywordseo="Druva">Druva</keyword> had raised funds to be a unicorn.</li></ul>India and US-based Software-as-a-Service (SaaS) platform Icertis is the latest startup to join the unicorn club following a <a href="https://tech.economictimes.indiatimes.com/news/startups/icertis-becomes-indias-third-saas-unicorn-with-115m-funding/70256989">funding </a>from Azim Premji’s Premji Invest and US-based VC firm Greycroft. The startup has raised $115 million in its latest fundraising. With its total funding standing at $211 million, the company, which offers contract management, has raced past the $1 billion mark in value, to enter the unicorn club. The startup has 5.7 million contracts so far across 90 countries. Its clients include Adobe, Airtel, Cognizant, Infosys, Microsoft and others. According to <a href="https://tech.economictimes.indiatimes.com/news/startups/icertis-becomes-indias-third-saas-unicorn-with-115m-funding/70256989">reports</a>, with the new funds, the company will invest in building new technologies like blockchain, artificial intelligence and machine learning. It also plans to expand its global presence. In June 2019, another Indo-US-based SaaS startup Druva had entered the unicorn club after raising $130 million in a round led by Viking Global Investors and Nexus Venture Partners. Meanwhile, Premji Invest, which is the family office of Azim Premji, has been investing since 2006 and has placed its bets across 40 countries. See Also: <a href="https://www.businessinsider.in/wipro-azim-premji-in-his-last-agm-spoke-about-technologies-that-the-company-would-focus-on/articleshow/70254296.cms">Azim Premji announces four technologies that Wipro will focus on as he bid adieu</a>

Azim Premji leads an investment in Indo-US startup Icertis, turns it into a unicorn

Real estate arm of the <keyword id="6400918" type="General" weightage="50" keywordseo="piramal-group" source="Orion">Piramal Group</keyword>, <keyword id="620925" type="General" weightage="80" keywordseo="piramal-realty" source="Orion">Piramal Realty</keyword>, and Jio-bp announced their partnership to provide world-class EV charging solutions across all <keyword id="100407" type="General" weightage="100" keywordseo="piramal" source="Orion">Piramal</keyword>'s residential projects in the Mumbai Metropolitan Region, a joint press release stated on Thursday. Jio-bp is a fuel and mobility joint venture between RIL and bp. As part of this partnership, customers and visitors to Piramal's residential projects will be able to charge their electric vehicles seamlessly at Jio-bp pulse EV charging stations at sites with the Jio-bp pulse mobile app. The first set of EV charging points at <keyword id="3415882" type="General" weightage="50" keywordseo="piramal-vaikunth" source="Orion">Piramal Vaikunth</keyword> in Thane were installed. Piramal Group said sustainability is a key pillar of Piramal Realty's business strategy and is integrated at all levels of its operations. The availability of EV charging infrastructure within its residential complexes ensures convenient charging of electric vehicles and boosts the confidence of potential electric vehicle buyers. Jio-bp constructed and launched many charging hubs along with hundreds of public charge points in various cities and major highways in India. Besides fixed charging, Jio-bp also offers <keyword id="5930710" type="General" weightage="80" keywordseo="battery-swapping" source="Orion">Battery Swapping</keyword> services through its large network of Battery Swapping Stations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/heres-how-meesho-zepto-pepperfry-and-icertis-cracked-hyperscaling/slidelist/98943189.cms">Here’s how Meesho, Zepto, Pepperfry and Icertis cracked ‘hyperscaling’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/global-it-services-firm-accenture-slashes-19000-jobs-tech-mayhem-deepens/articleshow/98944217.cms">Global IT services firm Accenture slashes 19,000 jobs, tech mayhem deepens</a>

Piramal Realty inks deal with Jio-bp to install EV charging stations at its properties

Global <keyword id="6354185" type="General" weightage="20" keywordseo="IT" source="Orion">IT</keyword> services firm <keyword id="6370971" type="General" weightage="100" keywordseo="accenture" source="Orion">Accenture</keyword>, which has a large presence in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, on Thursday announced to lay off of nearly 19,000 employees amid the challenging global macro-economic conditions and slow revenue growth. Delivering its quarterly results for the second quarter of fiscal 2023, the company also reduced its annual revenue growth and profit forecasts. "We are also taking steps to lower our costs in fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead," Julie Sweet, <keyword id="6415823" type="General" weightage="50" keywordseo="chair" source="Orion">Chair</keyword> and CEO, Accenture, said in a statement. The company said its revenues were $15.8 billion, an increase of 5 per cent in US dollars. The new bookings were at $22.1 billion, a 13 per cent increase. During the second quarter of fiscal 2023, Accenture initiated actions to streamline operations, transform non-billable corporate functions and consolidate office space to reduce costs. The company recorded $244 million in business optimization costs during the second quarter and expects to record total costs of approximately $1.5 billion through fiscal 2024. "Accenture estimates $1.2 billion for severance and $300 million for consolidation of office space, with approximately $800 million expected in fiscal 2023 and $700 million in fiscal 2024," said the company. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/now-sync-your-air-travel-with-uber-via-email-integration-in-india/articleshow/98942821.cms">Now sync your air travel with Uber via email integration in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/heres-how-meesho-zepto-pepperfry-and-icertis-cracked-hyperscaling/slidelist/98943189.cms">Here’s how Meesho, Zepto, Pepperfry and Icertis cracked ‘hyperscaling’</a>

Global IT services firm Accenture slashes 19,000 jobs, tech mayhem deepens

Global technology brand <keyword id="6485927" type="General" weightage="100" keywordseo="realme" source="Orion">realme</keyword> is set to replace <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> business head <keyword id="6530659" type="General" weightage="50" keywordseo="madhav-sheth" source="Orion">Madhav Sheth</keyword> with a top executive from its China-based headquarters, reliable sources told IANS on Thursday. <keyword id="262579" type="General" weightage="80" keywordseo="sheth" source="Orion">Sheth</keyword> may quit the company once the official statement is made soon. The move, according to industry insiders, does not augur well for the company which cemented its position in a market which is highly competitive at the mass level, with Sheth, as its India business lead, became the sole face of the company within a short span of time. According to sources, realme is set to make the India announcement as soon as possible, as the domestic smartphone market goes through a churning. Sheth, being a veteran in the field, clearly has a command over the local market dynamics -- something that the upcoming Chinese executive may not have in his kitty. Another worry for realme, according to industry insiders, is that a Chinese national at the helm may send negative signals to the Indian government which is already after Chinese-run businesses, especially smartphone vendors, which were allegedly involved in tax evasion running into thousands of crores. Sheth, currently the CEO of realme India, VP, realme and President, realme International Business Group has been at the forefront of creating consumer products with trendsetting technologies, features and designs. An award-winning global business leader with over 17 years of experience, he spearheads the company's strategy development, product engineering, business development, market operations and brand-building initiatives alongside others. Sheth is fully responsible for realme's overseas business operation, reporting directly to the founder and CEO of realme, <keyword id="2871924" type="General" weightage="50" keywordseo="sky-li" source="Orion">Sky Li</keyword>. On May 4, 2018, realme was officially established by its founder Li and Sheth in India. Sheth focused on the development of AIoT devices and smartphones for Indian consumers, with the goal of improving their lives by inventing fashionable and high-tech lifestyle smart products. Under his leadership, realme India diversified into AIOT products with Smart TVs, Smart wearables and Smart hearables; strengthened mainline presence across the country with realme exclusive stores; enhanced 'Make in India' commitment with local manufacturing and exports to Nepal region, and popularised adoption of 5G-enabled smartphones. realme emerged as the third biggest smartphone brand in India in Q1 2022, and the fastest growing major 5G brand globally in Q4 2021, clocking a 165 per cent growth in global 5G smartphone shipments. The company climbed to the second slot for a second time, with a strong YoY growth of 24 per cent (highest among top five vendors) in Q2, 2022, as per IDC. It grew 2 per cent (on-quarter) in the third quarter last year, according to Counterpoint Research. realme cemented its second position in the online channel with 23 per cent share with affordable model offerings in the C-series. realme is the No. 5 Android smartphone brand globally and the youngest brand to achieve 100 million sales globally within 37 months. In the next five years, his objective was to accomplish realme as the most adored tech-lifestyle brand across the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/now-sync-your-air-travel-with-uber-via-email-integration-in-india/articleshow/98942821.cms">Now sync your air travel with Uber via email integration in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/heres-how-meesho-zepto-pepperfry-and-icertis-cracked-hyperscaling/slidelist/98943189.cms">Here’s how Meesho, Zepto, Pepperfry and Icertis cracked ‘hyperscaling’</a>

realme to appoint new India biz head from China, Madhav Sheth may quit

The <keyword id="6380521" type="General" weightage="100" keywordseo="gmr" source="Orion">GMR</keyword> Group (co-owners of Delhi Capitals) and Microsoft chairman &amp; CEO <keyword id="276564" type="General" weightage="80" keywordseo="satya-nadella" source="Orion">Satya Nadella</keyword> and GMR Group-led consortium have bagged the rights to own and operate a team in Major League Cricket (<keyword id="6382182" type="General" weightage="80" keywordseo="mlc" source="Orion">MLC</keyword>), a new T20 franchise league in the USA, which is scheduled to be launched this July. In a media release issued on Thursday night, the MLC confirmed that the franchise would be called <keyword id="64863" type="General" weightage="80" keywordseo="seattle" source="Orion">Seattle</keyword> Orcas. Notably, Orcas, killer whale native to the ocean waters around Seattle, is considered a symbol of power and strength. Other than <keyword id="2045946" type="General" weightage="80" keywordseo="nadella" source="Orion">Nadella</keyword> and GMR, the other investors in the Orcas franchise comprise Soma Somasegar (managing director of Madrona Ventures), Samir Bodas (co-founder and CEO, Icertis), Ashok Krishnamurthi (managing partner, GreatPoint Ventures) and Sanjay Parthasarathy (a former senior executive at Microsoft and Avalara). "We see America as the new frontier for cricket's growth globally, and the Pacific Northwest provides an incredible opportunity for us to bring the resources of GMR Sports to the region and help the Seattle Orcas build a team competing for championships," said Kiran Kumar Grandhi, Managing Director, and CEO of GMR Group, a Co-Owner of Delhi Capitals. The Pacific Northwest is a hotbed for American cricket, with a vibrant youth scene and the current reigning Minor League Cricket champions, the Seattle Thunderbolts, hailing from the area. It's going to be exciting to see the Seattle Orcas build on that platform and compete in the inaugural Major League Cricket championship this summer," said Justin Geale, MLC Tournament Director. Meanwhile, other IPL franchises Mumbai Indians and Chennai Super Kings have also bought stakes in MLC. MI, who also have teams in the SA20 and the ILT20 apart from the IPL, will run the New York franchise while Super Kings, who also owns a team in the SA20 will run the Dallas franchise in Texas along with local investors Anurag Jain and Ross Petrot Jr. Notably, Kolkata Knight Riders were the first IPL franchise to enter the MLC circuit, associating themselves with Los Angeles. The arrival of three others means four out of the six teams in MLC overall will be helmed by IPL franchises, The two other franchises in the league are based out of Washington DC and San Francisco. The Washington DC franchise -- to be called Washington Freedom -- is owned by local American investor Sanjay Govil, who has tied up with New South Wales Cricket, to provide the operational expertise including helping set up the squad and putting a cricketing structure in place. A similar strategic tie-up has been struck between the San Francisco franchise, owned by Anand Rajaraman and Venky Harinarayan, and Cricket Victoria. The inaugural season of MLC will be played between July 13 and 30 at the newly renovated facility in the Dallas suburb of Grand Prairie, Texas, with the player draft for local US players scheduled to be on March 19 at the NASA Johnson Space Center in Houston. The squad size will comprise a minimum of 15 and a maximum of 18 players, of which nine can be overseas players. At least six players in the playing XI will need to be from the USA. The overseas players will be direct signings by the franchises, not part of the draft. It is understood that teams will have a purse of USD 800,000 for overseas signings and USD 300,000 for the US-based players. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/idbi-bank-privatisation-on-track-says-dipam-secretary/articleshow/98726442.cms">IDBI Bank privatisation on track says DIPAM secretary</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/microsoft-introduces-ai-powered-copilot-for-word-outlook-and-more-heres-what-it-means/articleshow/98727634.cms">Microsoft introduces AI-powered 'Copilot' for Word, Outlook and more — here’s what it means</a>

Satya Nadella, GMR group bag rights for a team in US' T20 franchise Major League Cricket

<ul><li><keyword id="393315" type="General" weightage="20" keywordseo="Jamshed-J-Irani" source="Orion">Jamshed J Irani</keyword>, known as the steel man of India, died in Jamshedpur late Monday night, <keyword id="6357147" type="General" weightage="80" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> said. He was 85.</li><li> Irani was associated with Tata Steel for over four decades.</li><li> He joined the Board of Tata Steel in 1981 and was also a Non-Executive Director from 2001 for a decade.</li></ul>Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 85. Irani was associated with Tata Steel for over four decades. He retired from the board of Tata Steel in June 2011, leaving behind a legacy of 43 years, which won him and the Company international acclaim in various fields. Born on June 2, 1936 in Nagpur to Jiji Irani and Khorshed Irani, Dr Irani completed his BSc from Science College, Nagpur in 1956 and MSc in Geology from the Nagpur University in 1958. He then went to the University of Sheffield in UK as a J N Tata scholar, where he secured a Masters in Metallurgy in 1960, and a PhD in Metallurgy in 1963. He started his professional career with the British Iron and Steel Research Association in Sheffield in 1963, but always yearned to contribute to the Nation's progress. He returned to India to join The Tata Iron and Steel Company (now Tata Steel), as it was then known, in 1968, and joined the firm as Assistant to the Director in-charge of Research and Development. He went on to become General Superintendent in 1978, General Manager in 1979, and President of Tata Steel in 1985. He became Joint Managing Director of Tata Steel in 1988, and Managing Director in 1992 before retiring in 2001. He joined the Board of Tata Steel in 1981 and was also a Non-Executive Director from 2001 for a decade. Besides Tata Steel and Tata Sons, Dr Irani also served as a Director of several Tata Group companies, including Tata Motors and Tata Teleservices. Irani is survived by his wife Daisy Irani and his three children, Zubin, Niloufer and Tanaaz. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-reports-89-yoy-increase-in-q2-net-profit-to-2145-crore/articleshow/95207348.cms">Bharti Airtel reports 89% YoY increase in Q2 net profit to ₹2,145 crore</a> <a href="https://www.businessinsider.in/business/corporates/news/lts-q2-net-profit-grows-23-to-2229-cr-margins-soften-on-input-cost-pressures/articleshow/95209063.cms">L&amp;T’s Q2 net profit grows 23% to ₹2,229 cr, margins soften on input cost pressures</a> <a href="https://www.businessinsider.in/business/news/icertis-raises-150-million-to-boost-contract-lifecycle-management-business/articleshow/95209273.cms">Icertis raises $150 million to boost contract lifecycle management business</a>

Jamshed J Irani: The Steel Man of India passes away at 86

The demand for <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> went up by 14 per cent to 191.7 ton in India during the third quarter of this calendar year, said the <keyword id="113718" type="General" weightage="20" keywordseo="world-gold-council" source="Orion">World Gold Council</keyword> (WGC) on Tuesday. According to the WGC, the gold demand in India was at 191.7 ton (value ₹85,010 crore) during Q3 2022 as against 168 ton (₹71,630 crore) of the corresponding period in 2021. The jewellery demand for the period under review was at 146.2 ton up from 125.1 ton the previous year. On the other hand, the total investment demand for Q3 2022 at 45.4 ton in comparison to 42.9 ton in Q3 2021. The recycled gold showed a downward trend in Q3 2022 with 16 ton as compared to 20.7 ton in Q3 2021. For the nine months of 2022 the gold demand stood at 497.8 ton (jewellery 380.7 ton, investment 117.1 ton) as compared to 453.5 ton (jewellery 345.9 ton investment 107.6 ton "India's total gold demand in Q3 2022 at 191.7 tonnes is a 14 per cent increase over last year. This reflects better-than expected performance and strong consumer interest, helping year-to-date demand return to pre-Covid levels," said Somasundaram P.R., Regional CEO, India, WGC. Credit expansion added impetus to this demand, with bank loan growth touching a nine-year high by quarter-end. He said the recovery in gold jewellery demand was primarily driven by urban India, more specifically Southern parts, underpinned by robust economic activities with a 17 per cent y-o-y increase in tonnage terms. Rural demand however, was impacted by seasonal effect (monsoons) and inflation. On the other hand, Indian bar and coin demand also saw a six per cent y-o-y improvement to 45.4 ton, he added. "Looking ahead, Indian retail investment is likely to continue to benefit from safe-haven demand amid rising interest rates and a weakening rupee. There's optimism in the overall outlook for the rest of the year with weddings and Diwali demand in Q4, but it is unlikely to match last year's record-breaking Q4. Our gold demand estimate for the full year is around 750-800 ton similar to last year," Somasundaram said. At the global level, WGC said the demand for the yellow metal (excluding OTC) in the third quarter of 2022 hit 1,181 ton, up 28 per cent year-on-year. Strong demand pushed the year-to-date total to its pre-Covid levels. Gold demand was bolstered by the consumers and central banks, although there was a notable contraction in investment demand. According to WGC, investment was down 47 per cent year-on-year, as exchange traded fund (ETF) investors responded to a challenging combination of markedly higher interest rates and a strong US dollar with significant outflows of 227 ton. These movements, alongside weakness in OTC demand and negative sentiment in futures markets, hampered gold's price performance -- contributing to an eight per cent quarter-on-quarter drop in the price during Q3 2022. Just as consumer gold demand firmed, central bank buying picked up significantly with estimated record purchases of nearly 400 t in the third quarter, said WGC. "Looking ahead, we anticipate central bank buying and retail investment to remain strong and that could help offset potential declines in OTC and ETF investment that may prevail if the dollar strength persists. We also expect to see jewellery demand continue to perform strongly in some regions such as India and Southeast Asia, while the technology sector will likely witness further decline in the face of economic deceleration," Louise Street, Senior Markets Analyst said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rbi-to-launch-the-nations-first-digital-rupee-pilot-project-for-the-wholesale-segment-today/articleshow/95221874.cms">RBI to launch the nation's first digital rupee pilot project for the wholesale segment today</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/icertis-raises-150-million-to-boost-contract-lifecycle-management-business/articleshow/95209273.cms">Icertis raises $150 million to boost contract lifecycle management business</a>

Gold demand went up by 14% in Q3: World Gold Council

<ul><li>Riding on the tech and digital wave, startups in India are hiring for technical roles. </li><li>Check out the new jobs listed at Jio, Unacademy, Icertis, Freshworks, and more. </li><li>Check out all the news and headlines at <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>As the Indian startup ecosystem recovers rapidly from the COVID-19 pandemic, hirings are in full swing. With a focus on digital transformation and growing technological progress, startups in India are hiring for technical roles. According to Naukri.com’s hiring activity report from November, the top searched keywords on the Naukri platform are Java Developer, Manual Testing and Business Analyst. Meanwhile, the top cities in recruitment mode are Bengaluru (22%), Delhi (13%), Hyderabad (9%), Pune (9%) and Chennai (7%). Here’s a look at some of the interesting jobs listed in the startup sector Unacademy is hiring in full swing, from Senior Product Manager to Analyst for Consumer Insights Indian edtech unicorn Unacademy has multiple job listings open on LinkedIn. The startup, which is riding on the edtech wave in India, is looking to fill multiple roles like Senior Product Manager, Senior Executive - Consumer Insights, Lead - Product Security, Manager Taxation, among others. You can find the job listings and requirements <a href="https://www.linkedin.com/company/unacademy/jobs/">here</a>. Jio’s tech hiring is on Reliance Jio is hiring for multiple technology-driven roles. The digital platform is hiring across its Mumbai and Hyderabad offices for roles like Senior Data Scientist, Big Data Developer, Cloud Solution Architect, Senior Compliance Officer, among others. You can take a look at the listings and requirements <a href="https://www.linkedin.com/company/jio/jobs/">here</a> GPT-3 developers needed Top venture capitalist firm Lightspeed Partners’ India’s partner Hemant Mohapatra posted a rather interesting job requirement on Thursday morning. The VC posted a requirement for GPT-3 developers on Twitter. <div type="twitter" handle="MohapatraHemant" handlename="Hemant Mohapatra" image="http://pbs.twimg.com/profile_images/1259870866365693953/SenCprAA_normal.jpg" favoritecount="15" retweetcount="7" status="Looking for GPT-3 devs for technical lead roles - please DM if you are one / know someone. Remote OK! 🙏" createdat="1608175702000" id="1339412090717519873"></div> GPT-3 is Generative Pre-trained Transformer 3, the latest tech trend which has taken over the world. GPT-3 is an autoregressive language model that produces human-like text by using deep learning. Freshworks has multiple tech and non-tech openings Indian SaaS giant Freshworks has multiple openings listed across its US and India offices. The startup is looking for Product Managers, Engagement Managers, Community Marketing Specialists, Business Analysts and more. The startup is also looking to hire interns. You can check out all the openings <a href="https://www.linkedin.com/company/freshworks-inc/jobs/">here.</a> Icertis is looking to hire for tech and sales Another Indian <a href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms">SaaS unicorn Icertis </a>is hiring for multiple roles. The startup has openings for roles like Chief Alliance Officer, Director - Customer Advocacy, Senior Director - Product Manager, UX Architect and more. The startup is looking to hire for its India and US offices. You can check out the job listings <a href="https://www.linkedin.com/company/icertis/jobs/">here</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

You Searched For "Icertis" and got 13 results

Icertis raises $150 million to boost contract lifecycle management business

IANS

After Freshworks, Icertis is looking for an IPO for next year in the US

Kritti Bhalla

This Pune-based startup has tripled its valuation in less than two years

Dearton Thomas Hector

EXCLUSIVE: This Indian unicorn helping Google, Microsoft and Apple manage their contracts is hiring⁠— it needs techies as well as people in sales

Prabhjote Gill

Hiring now! Walmart, Dream11, Ola and Icertis – and they need both full-time staff as well as interns

Sanchita Dash

Azim Premji leads an investment in Indo-US startup Icertis, turns it into a unicorn

Sanchita Dash

Piramal Realty inks deal with Jio-bp to install EV charging stations at its properties

ANI

Global IT services firm Accenture slashes 19,000 jobs, tech mayhem deepens

IANS

realme to appoint new India biz head from China, Madhav Sheth may quit

IANS

Satya Nadella, GMR group bag rights for a team in US' T20 franchise Major League Cricket

IANS

Jamshed J Irani: The Steel Man of India passes away at 86

PTI

Gold demand went up by 14% in Q3: World Gold Council

IANS

From Unacademy to Jio and Freshworks – check out the hot new tech job openings in India

BI India Bureau

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