SirionLabs announces its funding milestone of $110M, will continue to grow its CLM platform and reach
SirionLabs, provider of artificial intelligence (AI)-powered contract lifecycle management (CLM), announced that its Series D funding has reached $110 million as a result of an investment by Brookfield Growth, further enabling the company to expand its leadership position in the rapidly growing enterprise CLM market.
The previously announced round was led by Partners Group with participation from existing investors Sequoia India and Tiger Global.
“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,” said Ajay Agrawal, founder and CEO of Sirion. “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.”
The Brookfield Growth investment will support product innovation that will allow Sirion to reinforce its position at the forefront of CLM, including advances in AI capabilities and seamless integration with enterprise platforms such as SAP S/4HANA, Salesforce, and Microsoft 365. Sirion is rapidly expanding its R&D to hubs across the globe to leverage talent in AI, user experience, data science, and design thinking.
Brookfield’s deployment of Sirion’s CLM software and subsequent investment underscores the value of CLM, according to the company.
This includes accelerated top-line growth through faster closes, lower costs through disciplined negotiations, stronger supplier management, and reduced operational and regulatory risk with mandatory compliance.
For more information about this news, visit www.sirionlabs.com.