Biography of Monish Darda: Co-founder of Icertis and CloudMoyo- Entrepreneur
Biography of Monish Darda:
Early Life and Ambitions
Monish Darda’s journey began in a bustling household in
Pune, India, where he lived with nine family members in a single room. Despite
the crowded conditions, Monish's parents supported his aspirations
wholeheartedly. His early years were marked by unusual hobbies, such as
collecting bus tickets, which sparked his imagination and set the stage for his
future pursuits. Initially, Monish dreamed of becoming a bus conductor, and he
diligently gathered tickets for years. His interests later shifted to vehicles,
which led him to dream of becoming a pilot. However, his early aspirations took
a turn as he faced academic and financial challenges.
Early Education and Academic Journey
Monish Darda’s journey began with his education in
mechanical engineering. He completed his Bachelor’s degree in Mechanical
Engineering from Savitribai Phule Pune University in India, where he studied
from 1983 to 1987. Building on this foundation, Monish pursued a Master’s
degree in Mechanical Engineering at Florida Atlantic University in the United
States, graduating between 1987 and 1990. This blend of international and local
education set the stage for his future achievements in the tech industry.
From Mechanical Engineering to Software
Monish’s path took a significant turn when he started
studying mechanical engineering. Although his initial attempt to become a pilot
didn’t pan out, he focused on his engineering studies with determination. Faced
with financial constraints, he excelled in a diploma course and later shifted
to mechanical engineering. During his studies, Monish landed an internship at
Thermax, a boiler manufacturing company. This internship was pivotal, as it
exposed him to the world of software development, sparking an interest that
would define his career.
Discovering a New Passion
During his time at Thermax, Monish was given a chance to
deliver documents to a software office, which led to an unexpected opportunity.
Engaging with the software team and showcasing his programming skills, Monish
was offered a role in the tech industry. This marked the beginning of his
transition from mechanical engineering to software development. He began
creating software solutions, including a tool for designing chimneys, which
laid the groundwork for his future in technology.
Moving to the U.S. for Higher Education
Monish’s academic journey continued when he earned a
scholarship to study for a Master’s degree at Florida Atlantic University in
the United States. The $11,000 scholarship was a significant achievement and
provided him with an opportunity to experience a new culture and educational
environment. This period in the U.S. was transformative, broadening his
horizons and equipping him with skills and knowledge that would prove invaluable
in his future ventures.
The Startup Scene Begins
Upon returning to India after his studies, Monish initially
worked in a different field, selling soundproof wall claddings. However, his
career took a decisive turn when he met a Princeton graduate who offered him a
position in a startup focused on automotive data acquisition systems. This
project, which involved creating sensors for measuring engine parameters, was
groundbreaking at the time and showcased Monish’s ability to innovate in the
tech space.
Founding Websym Technologies
The late 1990s saw Monish co-founding Websym Technologies, a
venture aimed at facilitating the establishment of U.S. tech companies in
India. Websym’s model was to build, operate, and transfer technology solutions
for international clients. One of the key successes of Websym was its
collaboration with Storability, a startup specializing in enterprise storage
management. This partnership led to Storability’s acquisition by Sun
Microsystems, highlighting Monish’s ability to drive successful tech ventures.
Previous Ventures and Experience
Before his ventures into ICERTIS and CloudMoyo, Monish held
several significant positions. From 2006 to 2014, he was a co-founder and
director at Websym Technologies, which he later led as CEO from March 2000 to
January 2004. His earlier roles included serving as the Vice President of
R&D and General Manager at BladeLogic from 2005 to 2008, and as General
Manager at Storability Software from 2004 to 2006. Additionally, he was the
Director of Product Development at BMC Software for a year in 2008. His diverse
experience across various tech companies highlights his extensive expertise and
leadership in the technology sector.
Growth and Success with BladeLogic
Following his success with Storability, Monish worked with
BladeLogic, where he led the development of an enterprise server management
platform. BladeLogic’s innovative approach to data center management earned it
significant recognition and was eventually acquired by BMC Software. Monish’s
contributions to BMC’s cloud management vision played a critical role in
shaping the future of cloud technology.
The Formation of Icertis
In 2009, Monish Darda and his friend Samir Bodas embarked on
a new venture by founding Icertis. The company began with a broad vision but
gradually focused on contract management solutions. Icertis developed a niche
in contract lifecycle management (CLM), an area that had previously been
fragmented. By 2014, the company had honed its focus on CLM, setting the stage
for future success.
Founding ICERTIS
In 2009, Monish co-founded ICERTIS and took on the role of
Chief Technology Officer (CTO). Over the past 15 years, ICERTIS has grown to
become a leader in contract lifecycle management, offering solutions that help
businesses manage their agreements and compliance more effectively. Monish’s
leadership in this role has been pivotal in shaping the company’s technology
and strategic direction.
CloudMoyo: Innovating in the Cloud
Alongside his work at ICERTIS, Monish co-founded CloudMoyo
in April 2015. This company specializes in cloud and analytics solutions,
helping modern enterprises transition to cloud technologies and leverage big
data for business insights. As a key partner for Microsoft, CloudMoyo uses the
Azure Data Platform to turn complex data into actionable insights. Their
expertise in big data, machine learning, and predictive analytics has proven
beneficial for major corporations, including Microsoft, Roche, and Toyota.
Biography of Monish Darda: Co-founder of Icertis & CloudMoyo- Entrepreneur/ CloudMoyo/Websym Technologies/Icertis/Success story of Monish Darda/Story
Achieving Unicorn Status
Icertis made headlines in 2019 when it achieved unicorn
status, thanks to a $115 million funding round led by Greycroft and
PremjiInvest. This significant milestone was followed by an additional
investment from SAP, which boosted Icertis’ valuation to $5 billion. The
company’s flagship product, Icertis Contract Management (ICM), became a global
leader in managing complex contract portfolios for major corporations.
Innovations and Industry Recognition
Under Monish’s leadership, Icertis has embraced advanced
technologies such as AI and blockchain. These innovations have set the company
apart in the contract management industry, earning it a spot on Forbes’ AI 50
List for two consecutive years. Monish’s expertise in cloud resource management
and provisioning has been instrumental in driving these technological
advancements.
Personal Interests and Hobbies
In his personal life, Monish is known for his enthusiasm for
gadgets and gaming. He enjoys playing video games on his PS4, particularly Call
of Duty: Warzone. Monish also has a passion for Formula 1 racing and reading
science fiction novels, with Isaac Asimov being one of his favorite authors.
His interests reflect a blend of technology and entertainment, contributing to
a well-rounded lifestyle.
Humble Beginnings and Resourcefulness
Monish’s background as part of a middle-class family in Pune
provided him with a unique perspective on resourcefulness and innovation. His
early experiences, including learning to make the most of limited resources and
his knack for problem-solving, have significantly influenced his approach to
business and technology.
Overcoming Early Challenges
Despite facing financial and academic hurdles, Monish’s
perseverance allowed him to transition from a diploma course to a successful
career in technology. His ability to adapt and overcome obstacles laid the
foundation for his achievements in the tech industry, demonstrating his
resilience and determination.
Building a Legacy
Monish’s career has been marked by a series of successful
ventures and innovations. From his early projects to his role in founding
Icertis, he has consistently demonstrated a knack for identifying opportunities
and driving growth. His contributions to technology and entrepreneurship have
established him as a prominent figure in the industry.
Navigating Growth Challenges
Scaling Icertis from a startup to a unicorn involved
navigating significant challenges. Monish reflects on the difficulties of
growing from $50 million to $250 million in annual recurring revenue (ARR), a
period where many startups face critical hurdles. His focus on execution and
innovation has been crucial in overcoming these challenges.
Future Goals and Expansion
Looking forward, Monish aims to achieve a $1 billion ARR
within the next 4-5 years. This ambitious goal is supported by Icertis’ strong
market presence and the increasing demand for advanced contract management
solutions. Monish’s strategic vision includes expanding the company’s market
reach and strengthening its global presence.
Strategic Planning for Growth
To achieve its growth targets, Icertis is focusing on
expanding its presence in major markets and enhancing partnerships with key
firms. Monish emphasizes the importance of building a strong team and
leveraging new opportunities to drive the company’s growth and success.
Exploring Acquisition Opportunities
While Icertis is not currently seeking additional funding,
acquisitions are a key component of its growth strategy. Monish sees potential
in acquiring companies to fill gaps in technology and vertical markets,
particularly in the evolving legal tech space.
Adapting to Industry Trends
The contract management industry has seen significant
changes, with new players emerging and technologies evolving. Monish is
attentive to these trends and views the rise of generative AI as a potential
opportunity for acquisitions and further innovation.
Insights from Industry Leaders
Monish has drawn inspiration from industry leaders like
Microsoft’s Satya Nadella. Nadella’s advice on adapting strategies and
embracing change has influenced Monish’s approach to scaling Icertis and preparing
for future challenges.
Vision for the Future
Monish envisions Icertis becoming a leading global tech
company, akin to Salesforce, with roots in India. This vision drives his
efforts to scale the company and make a significant impact in the global
market, highlighting his commitment to long-term success and innovation.
Timeline for Monish’s story
1983-1987: Bachelor’s Degree in Mechanical Engineering, Savitribai
Phule Pune University
1987-1990: Master’s Degree in Mechanical Engineering,
Florida Atlantic University
Early 1990s: Transitioned to software development during an
internship
Late 1990s: Co-founded Websym Technologies
2000-2004: CEO of Websym Technologies
2004-2006: General Manager at Storability Software
2005-2008: Vice President of R&D at BladeLogic
2008: Director of Product Development at BMC Software
2009: Co-founded Icertis
2014: Icertis focused on contract lifecycle management
2015-Present: Co-founded CloudMoyo
2019: Icertis achieved unicorn status
Future Goals: Targeting $1 billion in annual recurring
revenue
