Seattle, USA-based global leader in artificial intelligence (AI)-powered contract lifecycle management (CLM), SirionLabs raised an additional USD 25 million in financing. The Series D round took place on January 3, 2023. The company’s Series D funding now amounts to USD 110 million. Brookfield Growth led the funding for the firm.
Purpose of financing for SirionLabs
With the latest capital injection, the company intends to expand its leadership position in the rapidly growing enterprise CLM market.
The Brookfield Growth investment seeks to support product innovation enabling Sirion to reinforce its position at the forefront of CLM, such as advances in AI capabilities and seamless integration with enterprise platforms, including SAP S/4HANA®, Salesforce and Microsoft 365.
Meanwhile, SirionLabs continues to expand its R&D to hubs across the globe to leverage talent in AI, user experience, data science and design thinking. Previously, existing investors Sequoia India and Tiger Global led the funding back then.
What the company’s official has to say
Ajay Agrawal, founder and CEO of Sirion, said, “Sirion’s superpower is that it goes beyond the operational efficiencies of traditional CLM to monitor and manage performance against the terms of the contract after the contract has been signed. Bringing to life complex objects like obligations, service levels and pricing mechanisms, and using this to realize hard-dollar savings, is a harder path but ultimately offers much broader business value for our customers.”
What the investor has to say
In addition, Josh Raffaelli, Managing Partner at Brookfield Growth, said, “We are disciplined in deploying capital with high-quality assets positioned to produce solid long-term returns for our investors. Sirion is solving a truly horizontal problem that impacts the bottom line, whether it’s identifying savings, closing deals faster or mitigating compliance risk. Brookfield has experienced this as a Sirion customer across multiple business lines globally.”
About the company
In 2012, Founders Aditya Gupta, Ajay Agrawal, Claude Marais, and Kanti Prabha launched SirionLabs. The company offers a SaaS enterprise contract management (CLM) platform to help enterprises manage the contracting lifecycle. SirionLabs contracting platform brings legal, procurement, sales, and business teams together to author contracts, improve risk management as well as strengthen counterparty relationships. The company’s solution is used by more than 250 organizations. Moreover, it manages over 5 million contracts worth more than USD 450 billion across more than 70 countries.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
-powered contract lifecycle management (CLM), SirionLabs raised an additional USD 25 million in financing.){kind=link}