Seattle–(business wire) — SirionLabs, the global leader in artificial intelligence (AI)-powered contract lifecycle management (CLM), today announced it has reached $110 million in Series D funding following an investment by Brookfield Growth. Announced. The previously announced round was led by Partners Group, with participation from existing investors Sequoia India and Tiger Global. The new capital will enable the company to extend its leadership position in the rapidly growing enterprise CLM market.
Sirion Founder and CEO Ajay Agrawal said: “Realizing complex objects such as obligations, service levels and pricing mechanisms and using them to realize hard dollar savings is a more difficult path, but ultimately delivers broader business value to customers. Offers.”
Investment in Brookfield Growth will enable Sirion to strengthen 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 We support innovation. Sirion is expanding rapidly. We have R&D in hubs around the world to harness talent in AI, User Experience, Data Science and Design Thinking.
Josh Raffaelli, Managing Partner at Brookfield Growth, said: “Sirion solves truly horizontal problems that impact bottom line: identifying savings, speeding up transactions and reducing compliance risk. We have experienced this in the field.”
Recognized by Gartner as a Leader in the 2022 Magic Quadrant for Contract Life Cycle Management, Sirion is ranked 3rd in 3 out of 5 use cases including Full Lifecycle Enterprise CLM in the 2022 Gartner® Critical Capabilities for Contract Life Cycle Management. Ranked 1st. Sirion has also been named a Leader in CLM in the 2021 Forrester Wave and 2021 IDC MarketScape report.
Brookfield’s deployment and subsequent investment in Sirion’s CLM software highlights the value of CLM. This includes accelerating top-line growth by closing deals faster, reducing costs through disciplined negotiations, enhancing supplier management, and reducing operational and regulatory risk through mandatory compliance. For more information on Sirion’s CLM platform and open positions, please visit www.sirionlabs.com.
By bringing together category-leading innovation, unmatched contract lifecycle management expertise, and a deep commitment to customer success, Sirion helps the world’s leading companies contract smarter. Powered by uniquely connected intelligence across the complete contract lifecycle, Sirion’s easy-to-use and highly configurable Smarter Contracting platform connects legal, procurement, sales and business teams to create stronger contracts. Create, improve risk management and strengthen counterparty relationships. Sirion is trusted by over 250 of his leading organizations and in over 70 countries he manages over 5 million contracts worth over $450 billion. For more information, please visit www.sirionlabs.com.
About Brookfield Growth
Brookfield Growth is the technology investment arm of Brookfield Asset Management. Founded in 2017, Brookfield Growth seeks to partner and invest growth equity in market-leading technology companies that can tap into the diverse real assets and businesses that make up the $750 billion Brookfield ecosystem. increase.
For more information, visit brookfield.com/brookfield-growth.