Sirion Labs, Seattle, a WA-based provider for an artificial intelligence (AI-powered) platform for contract management (CLM), raised $85M in Series D funding.
Theround, which brings the total raised up to $157m, was steered by Partners Group, with participation from Avatar Capital, Sequoia Capital Tiger Global. Cyrus Driver, Managing Director, Private Equity, Technologyat Partners Group, will join SirionLabsBoard of directors.
TheThe company plans to use the funds for further expansion of its leadership position inCLM for enterprise, scaling operations, which can include adding up to 200 people to its global workforce, and product innovation inAI and user experience (UX).
Founded in2012 by entrepreneurs Ajay Agrawal, Kanti Prabha, Aditya Gupta Claude Marais, SirionLabsProvides businesses with an AI-based configurable Smarter ContractingPlatform that brings together legal, procurement, and sales teams to create contracts, improve risk management, and strengthen counterparty relations. CoreThere are many capabilities available to contracting professionals in a variety of industries, including:
- Sales teams can reduce time-to-contract
- Legal teams can minimize risk and reduce time spent reviewing contracts.
- Financial professionals have visibility into revenues and expenses.
- Assisting procurement professionals during negotiations
- Reduce costs
- Increasing the efficiency of supplier management
SirionLabsOver 250 organizations use it to manage 5+ Million contracts worth more than $450 Billion in 70+ countries.