SirionLabs plans to use the funding to support product innovation in user experience (UX) and AI. Here are the top-line bullets you need to know.
SirionLabs, a provider of contract management technology, has raised $85M in a Series D. The round drew participation from Avatar Capital Partners, Partners Group, Sequoia Capital, and Tiger Global Management.
HOW’S THE COMPANY PERFORMING?
- Washington-based SirionLabs provides contract lifecycle management solutions to enterprises across industries.
- The company has a customer base of 250 firms, which includes Vodafone, DHL, Unilever, and Moody’s.
- SirionLabs manages over 5M contracts, across 70+ countries, that are collectively worth over $450B.
- It has offices across the US, the UK, Germany, France, Australia, India, and Singapore.
Source: SirionLabs
WHY DOES THE MARKET MATTER?
- The global contract lifecycle management software market is expected to reach a value of $3.3B by 2027, growing at a CAGR of 11.4%, according to IMARC Group.
- The need to accelerate contractual processes as well as the rising complexity of legal compliance requirements surrounding contractual arrangements have contributed to the market’s growth.
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