SirionLabs, a contract lifecycle management (CLM) start-up, has raised $25 million from Brookfield Growth, bringing its extended series D funding round to a close at $110 million.
The previous funding round was led by Partners Group with participation from existing investors Sequoia India and Tiger Global.
The company said it will use the fresh capital to expand its leadership position in the CLM market. “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 said.
The Brookfield Growth investment will allow Sirion to strengthen its AI capabilities and integration with enterprise platforms such as SAP S/4HANA, Salesforce and Microsoft 365.
“We are disciplined in deploying capital with high-quality assets positioned to produce solid long-term returns for our investors” said Josh Raffaelli, Managing Partner at Brookfield Growth. “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.”
The firm says it is expanding its R&D to world cities to leverage talent in AI, user experience, data science and design thinking. Sirion works with more than 250 organisations in 70 countries.