Agrawal bringing to life complex objects like obligations, service levels and pricing mechanisms
Existing investors Sequoia India and Tiger Global have joined Brookfield Growth in US$110 million Series D funding raised by SirionLabs, the global leader in artificial intelligence (AI)-powered contract lifecycle management (CLM) from Bellevue, Washington.
The fresh capital will enable the company to expand its leadership position in the rapidly growing enterprise CLM market.
“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,” Agrawal said on 3 Jan 2023.
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.
Sirion has offices in India, Singapore, Australia, France, Germany and the UK. fiinews.com
