Sirion Labs, a Seattle, WA-based provider of an artificial intelligence (AI)-powered contract lifecycle management (CLM) platform, raised $85M in Series D funding.
The round, which brings the total raised to $157m, was led by Partners Group, with participation from Avatar Capital, Sequoia Capital and Tiger Global. Cyrus Driver, Managing Director, Private Equity, Technology at Partners Group, will join the SirionLabs board of directors.
The company intends to use the funds to continue expanding its leadership position in the enterprise CLM market, scaling operations, which includes adding up to 200 employees to its global workforce, product innovation in AI and user experience (UX).
Founded in 2012 by entrepreneurs Ajay Agrawal, Kanti Prabha, Aditya Gupta and Claude Marais, SirionLabs provides businesses with an AI based configurable Smarter Contracting platform which brings legal, procurement, sales, and business teams together to author contracts, improve risk management and strengthen counterparty relationships. Core capabilities for contracting professionals across a range of industries include:
- reducing time-to-contract for sales teams;
- minimizing risk and contract review time for legal teams;
- providing finance professionals with visibility into expenses and revenues;
- supporting procurement professionals with negotiations;
- curtailing costs, and
- increasing the efficiency of supplier management.
SirionLabs is used by over 250 organizations to manage 5+ million contracts worth more than $450 billion across 70+ countries.
FinSMEs
11/05/2022