SirionLabs, a contract lifecycle management (CLM) company, has raised $25 million in its Series D funding round from private equity firm, Brookfield Growth.
The CLM company will use the funds for advancing its AI capabilities and seamless integration with enterprise platforms, such as SAP S/4HANA®, Salesforce, and Microsoft 365, the company said in a press statement. SirionLabs is also expanding its R&D to hubs across the globe to leverage talent in AI, user experience, data science, and design thinking.
“We are disciplined in deploying capital with high-quality assets positioned to produce solid long-term returns for our investors. Sirion is solving a horizontal problem that impacts the bottom line, whether it’s identifying savings, closing deals faster, or mitigating compliance risk,” said Josh Raffaelli, Managing Partner at Brookfield Growth.
Including the fresh round, SirionLabs has closed its Series D round at $110 million. The previous capital infusion was led by Partners Group with participation from existing investors like Sequoia India and Tiger Global.
“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,” said Ajay Agrawal, Founder and CEO, Sirion. Sirion works with over 250 leading organizations to manage about 5 million contracts that are worth over $450 billion and are spread across 70 countries