SirionLabs, a Gurugram, Haryana, India- and Troy, MI-based provider of innovative supplier management technology products, closed a $12.25m Series B financing.
The round was led by existing investor Sequoia India with participation from QualGro ASEAN Fund and Canopy Ventures. In conjunction with the funding, Sanish Mondkar, former Executive Vice President and Chief Product Officer at SAP, joined SirionLabs’ Board of Directors.
The company intends to use the funds to expand product capabilities and accelerate market growth.
Led by Ajay Agrawal, CEO, SirionLabs provides enterprise SaaS products focused on the post-signature management of complex services contracts. Its supplier governance product automates complex procedures across key governance disciplines – contract, performance, financial, relationship and risk management while embedded workflows facilitate real-world buyer-supplier interactions within the system by using contractual obligations as the core language.