Total amount raised
$171 Millions
Latest funding date
01/01/2023
Location
Sirion has successfully raised funds through multiple rounds, with the latest being a Series D closed on January 3, 2023. The company is backed by seven investors, including Brookfield Growth and Tiger Global Management.
Sirion's AI-native Contract Lifecycle Management (CLM) platform offers features such as contract storage, data extraction, and risk mitigation. Keep reading to explore the intricacies of Sirion's fundraising journey and the investors backing this innovative platform.
What Is Sirion?
Founded in 2012, Sirion is a leader in AI-driven Contract Lifecycle Management (CLM) software. The company is headquartered in Lehi, Utah, and operates within the AI, enterprise software, and SaaS industries.
Sirion was founded by Aditya Gupta, Ajay Agrawal, Claude Marais, and Kanti Prabha. The company employs between 501 and 1000 people, offering a comprehensive platform that integrates features such as contract creation, management, performance tracking, and optimization.
Sirion's solutions cater to various industries and enterprise teams, aiming to improve contract visibility, control, and outcomes. The company has received industry recognition for its innovative technology and continues to be a significant player in the enterprise software market.
How Much Funding Has Sirion Raised?
- Series A
- Amount Raised: $4.7M
- Date: April 2014
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI-driven CLM platform and establish a market presence.
- Series B
- Amount Raised: $12.3M
- Date: July 2016
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale operations to meet growing demand.
- Series C
- Amount Raised: $44M
- Date: April 2020
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand into new geographical markets.
- Series D (First Part)
- Amount Raised: $85M
- Date: May 2022
- Lead Investors: Partners Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To consolidate market position and integrate with major enterprise platforms.
- Series D (Second Part)
- Amount Raised: $25M
- Date: January 2023
- Lead Investors: Brookfield Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and expand R&D hubs globally.
Total Amount Raised: $171M. Current Valuation: Not publicly disclosed.
Key Investors
- Brookfield Growth
- Details: Brookfield Growth is the growth equity arm of Brookfield Asset Management, focusing on technology investments. They led the latest $25 million investment in SirionLabs.
- Investment Focus Areas: Technology, innovation-driven companies, growth-stage investments.
- Notable Investments: Not explicitly mentioned, but typically focuses on technology and growth-stage companies.
- Partners Group
- Details: Partners Group is a global private markets investment manager. They participated in the Series D round in May 2022 with an $85 million investment.
- Investment Focus Areas: Private equity, private real estate, private infrastructure, private debt.
- Notable Investments: GlobalLogic, Techem, PCI Pharma Services.
- Sequoia India
- Details: Sequoia India is the Indian arm of Sequoia Capital, a venture capital firm. They participated in the Series D round as an existing investor.
- Investment Focus Areas: Early and growth-stage companies, technology, consumer, healthcare.
- Notable Investments: BYJU'S, Zomato, OYO.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm focusing on private and public companies. They participated in the Series D round as an existing investor.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that led the Series A and Series B rounds for SirionLabs. They focus on early-stage investments.
- Investment Focus Areas: Early-stage companies, technology, consumer sectors.
- Notable Investments: Not explicitly mentioned in the sources.
What's Next for Sirion?
Sirion is poised to capitalize on the burgeoning Contract Lifecycle Management (CLM) market, which is projected to reach $3.3 billion by 2027. The company plans to enhance its AI capabilities and integrate with major enterprise platforms like SAP, Salesforce, and Microsoft 365. This strategic focus positions Sirion to attract more large-scale organizations and expand its market presence.
Future fundraising opportunities seem promising, given the successful Series D round and the involvement of high-profile investors. Additional funding rounds could support further technological advancements and global expansion of R&D hubs. However, Sirion will need to navigate challenges such as intense competition from established CLM providers and the complexities of scaling operations across multiple countries.
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