SirionLabs Raises $85 Million In Series D The funds will be used to expand its leadership position in the enterprise CLM market
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SirionLabs, an artificial intelligence (AI)-powered contract lifecycle management (CLM), has raised $85 million in Series D funding led by Partners Group with participation from existing investors Avatar Capital, Sequoia Capital and Tiger Global. This brings the total amount raised by SirionLabs to $157 million.
The investment will enable SirionLabs to continue expanding its leadership position in the enterprise CLM market, which is projected to reach $3.3 billion by 2027.
"The two biggest challenges in CLM are aligning post-award performance with contract terms and automating the import of legacy documents using AI. The SirionOne platform has a compelling technology advantage in both of these areas. This capital allows us to seize the moment, accelerate product innovation and bring our award-winning solution to an increasing number of enterprise customers," said Ajay Agrawal, co-founder and CEO of SirionLabs.
"We are delighted to lead this fundraising round for SirionLabs and have strong conviction in the company's future growth potential. The addressable market for CLM is expanding rapidly as more organizations undertake digital transformation initiatives. We were attracted by SirionLabs' leadership in this category, superior product offering, and blue-chip client base, and look forward to working with management on increasing scale-up capacity," said Cyrus Driver, managing director, Private Equity Technology at Partners Group.
It was founded in 2012 by entrepreneurs Ajay Agrawal, Kanti Prabha, Aditya Gupta and Claude Marais. SirionLabs' easy-to-use configurable smarter contracting platform brings legal, procurement, sales and business teams together to author stronger contracts, improve risk management and strengthen counterparty relationships.