SaaS firm SirionLabs secures $85 M in a Series D round led by Partners Group

SirionLabs Inc., a contract lifecycle management (CLM) software-as-a-service (SaaS) company, announced raising $85 million in a Series D fundraising round headed by Partners Group. The round included existing investors Avatar Capital, Sequoia Capital, and Tiger Global.

According to Ajay Agrawal, co-founder, and CEO of SirionLabs, the new funding will be used to increase product innovation and expand the company’s enterprise customer base.

Product innovation will primarily focus on artificial intelligence (AI) and user experience (UX), which will help it attract new customers and better service its current client base of over 250.

According to the company, Ajay Agrawal, Kanti Prabha, Aditya Gupta, and Claude Marais have raised a total of $157 million since the company’s start in 2012.

During the contract post-signature phase, SirionLabs uses algorithms trained on legal papers and “industry data” to provide visibility into contract performance, invoicing, and relationships.

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