SaaS startup SirionLabs raises $25 Mn from Brookfield Growth in Series D round
SirionLabs, a contract lifecycle management SaaS startup, has raised $25 million from Brookfield Growth as part of an extended Series D funding round.
With the new funding, the Seattle and Gurugram-based startup hopes to strengthen its position in the enterprise contract lifecycle management (CLM) market.
The startup raised a total of $110 million in its Series D round, which included Sequoia India, Tiger Global, and Partners Group. SirionLabs raised $85 million in the first part of its Series D round in May 2022. SirionLabs has so far raised $182 million in funding across multiple rounds.
SirionLabs will be able to expand its AI capabilities and integrate with enterprise platforms such as SAP S/4HANA, Salesforce, and Microsoft 365 with the help of Brookfield Growth investment.
“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,” he added.
Josh Raffaelli, managing partner at Brookfield Growth, said, “Sirion is solving a truly horizontal problem that impacts the bottom line, whether it’s identifying savings, closing deals faster or mitigating compliance risk. Brookfield has experienced this as a Sirion customer across multiple business lines globally.”
Powered by creative innovations, SirionLabs helps the world’s leading businesses contract in a “smarter” way possible. The SaaS startup was founded by Ajay Agrawal, Kanti Prabha, Aditya Gupta and Claude Marais in 2012.
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