SirionLabs, the global leader in 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.
The previously announced round was led by Partners Group with participation from existing investors Sequoia India and Tiger Global.
The fresh capital will enable the company to expand its leadership position in the rapidly growing enterprise CLM market, a statement 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,” 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.”
“We are disciplined in deploying capital with high-quality assets positioned to produce solid long-term returns for our investors,” said Josh Raffaelli, Managing Partner at Brookfield Growth. “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.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.