Women in Tech: “For those seeking mentorship, identify a clear goal”

A research study by The National Center for Women & Information Technology showed that “gender diversity has specific benefits in technology settings,” which could explain why tech companies have started to invest in initiatives that aim to boost the number of female applicants, recruit them in a more effective way, retain them for longer, and give them the opportunity to advance. But is it enough?

Four years ago, we launched a diversity series aimed at bringing the most inspirational and powerful women in the tech scene to your attention. Today, we’d like you to meet Chitra Balasubramanian, Chief Financial Officer, CircleCI.

Today’s Woman in Tech: Chitra Balasubramanian, Chief Financial Officer, CircleCI

With more than 20 years’ experience accelerating business growth through data analysis, Chitra Balasubramanian is best known for scaling cutting-edge, innovative technology companies, starting with PricewaterhouseCoopers, RetailNext, and now CircleCI.

As the current Chief Financial Officer, and one of two C-suite females at fast-growth unicorn CircleCI, her decision-making skills and poised, resilient leadership have led the company through major challenges and successes to become the leader in continuous integration for software engineering teams.

Chitra is as impactful and inspiring in the community as she is in the business. She serves on the Board of Trustees for the Computer History Museum and mentors young female entrepreneurs helping them resolve business challenges. She is a certified public accountant and holds a bachelor’s degree in Economics from the University of California at Berkeley and an MBA from the UCLA Anderson School of Management.

When did you become interested in technology? What first got you interested in tech?

After college I started working at PricewaterhouseCoopers and became one of the first subject-matter experts on financial auditing for its Center for Advanced Research. This division was an innovation think tank responsible for the design and development of advanced technologies that solve previously unsolvable problems for the firm’s core practice areas. As part of my role, I was offered the opportunity to work in Silicon Valley, which is where I really got to see how technology was built. I became fascinated by cutting-edge, innovative technology and have found myself in the tech world ever since.

Let’s talk about your background. How did you end up in your career path? What obstacles did you have to overcome?

Like many CFOs, my background is in finance and accounting. I started as an analyst at the International Trade Administration and then worked at PricewaterhouseCoopers for more than five years. I also had investment banking roles at Lehman Brothers and Barclays Capital in the mid-2000’s.

My first startup experience came at the Blackhawk Network and my role was split between marketing and supporting a product and all of its forecasting, budgeting, and growth. That role prepared me for my next role at RetailNext, where I was tasked with growing a team of data analysts, consulting with clients, and delivering useful data-based products that change the ways retailers sell to consumers.

I was the youngest executive among a highly experienced team, but I learned to use my past experiences and skills to achieve our goal and ended up supporting more than 100 employees, 100 brand-name retailers, and a prestigious board of directors with data analysis and forecasting shopping trends. As a result, my work using big data directly disrupted traditional retail.

It’s been a true team effort, but I know my contributions as CFO have had a significant impact.

A day in Chitra’s life

CircleCI is the largest continuous integration and continuous delivery (CI/CD) platform helping thousands of companies worldwide build software quickly and reliably. With nearly every company in every industry becoming increasingly software-based, CircleCI empowers software developers to build faster and more accurately to decrease time to innovation.

I joined CircleCI as the first finance hire in 2017. Then in June 2019, our company’s CEO Jim Rose appointed three C-level executives to drive the next phase of company growth and innovation and I was appointed Chief Financial Officer.

As CFO, I’m responsible for leading and scaling CircleCI’s general and administrative functions. Finance leaders can sometimes be viewed as someone who imposes constraints. However, I believe finance is all about fueling those on the ground and driving the business forward. I’ve helped lead the company through major wins to establish itself as a leader in its space, and work closely with our CEO to fundraise. Last year, I helped close a $100 million Series F, led by Greenspring Associates, bringing our valuation to $1.7 billion. In addition, I’m an executive sponsor and mentor of CircleCI’s Women & Allies Employee Resource Group, CircleSHEi.

What are you most proud of in your career?

My proudest moments are when I take on something outside of my comfort zone and end up succeeding.

When I transitioned to CFO at CircleCI, I became responsible for helping lead the company to our next phase of growth. It’s been an exciting yet challenging undertaking, and I’m really proud of how much growth we’ve seen since joining. It’s been a true team effort, but I know my contributions as CFO have had a significant impact.

For example, a few years ago, I led the company to transition from a subscription model to a usage-based pricing model. This move helped bring CircleCI closer to its customers, securing net new companies and larger deals, and increasing company revenue by 360%. This massive growth helped us to double our global employee headcount – amidst a pandemic.

Why aren’t there more women in tech? What’s your take on that?

I actually think there are a lot of women working in tech. We’ve come a long way from what was once a male-dominated sector, but the bigger challenge is the lack of women in leadership positions.

It’s important for women to believe in themselves and understand that career elevation results from working through challenges one has previously thought were out of reach.

Could you name a few challenges (or obstacles) women in tech face?

As a mentor, I see that women don’t want to, “fake it till they make it.” They want to really know the subject or challenge before they take it on. Or, they let fear prevent them from taking risks. We often create our own barriers.

As women, we have to eliminate our imposter syndrome, challenge ourselves to take on the hard stuff, and conquer our goals so we can continue to reach new heights. We also have to be vocal about what we want and ask questions so that we are continuously learning.

What advice (and tips) would you give to women who want a tech career? What should they know about this industry?

The single best piece of advice I’ve received, and what I always tell others, is to always stay curious. Curiosity enables you to ask questions that lead to growth and set you up for top-level ambitious goals.

I also encourage women to seek opportunities that are outside of their comfort zones and get comfortable with being uncomfortable. It’s important for women to believe in themselves and understand that career elevation results from working through challenges one has previously thought were out of reach. This includes taking on the hard stuff and surrounding oneself with a strong support system.

For those seeking mentorship, identify a clear goal and the challenges you seek to navigate. Mentorship can take many forms, including short-term aid for a job search, long-run career advancement, and even ongoing, informal ‘phone a friend’ support, so it’s important to align on your goals for the relationship at the outset.

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