SirionLabs, the global leader in artificial intelligence (AI)-powered contract lifecycle management (CLM), today announced a $110 million Series D fundraising round led by Brookfield Growth. Partners Group led the previously disclosed round, which included current investors Sequoia India and Tiger Global. The additional cash will allow the company to strengthen its leadership position in the rapidly expanding enterprise CLM industry.
The Brookfield Growth investment will fund product innovation that will help Sirion to maintain its leadership position in CLM, such as breakthroughs in AI capabilities and seamless interaction with corporate platforms including SAP S/4HANA®, Salesforce, and Microsoft 365. Sirion is aggressively expanding its R&D to global centres in order to capitalize on talent in AI, user experience, data science, and design thinking.
Sirion was named a Gartner Magic Quadrant Leader for Contract Life Cycle Management in 2022, and was ranked first in three of five use cases, including full lifecycle corporate CLM, in the 2022 Gartner® Critical Capabilities for Contract Life Cycle Management. Sirion was also designated a leader in the Forrester Wave and IDC MarketScape studies for CLM in 2021.
Brookfield’s use of Sirion’s CLM software and subsequent investment demonstrates the importance of CLM. This includes faster closing, cheaper costs through focused negotiating, greater supplier management, and decreased operational and regulatory risk through enforced compliance.
