SirionLabs raises $44mn led by Tiger Global, Avatar Growth Capital

SirionLabs, an AI-powered contract lifecycle management (CLM) platform, on Wednesday said it has raised USD 44 million (over Rs 331 crore) in series C funding led by Tiger Global and Avatar Growth Capital.

The latest round brings SirionLabs' total capital raised to USD 66 million till date. The earlier rounds were led by Sequoia Capital India, a statement said. "The new funding will be utilised to enhance engineering capabilities at our Gurgaon centre and our newly established AI laboratory in Seattle. We are also using the capital to ramp up SirionLabs' global sales and marketing capabilities, as well as to expand our technology and go to market partnerships," SirionLabs co-founder, chairman and chief executive officer Ajay Agarwal said. Headquartered in Gurugram, SirionLabs' diverse team consists of over 500 employees working across India, the US, the UK, Canada, the Netherlands, Denmark and Singapore. Its R&D centres are located in Delhi and Seattle. Founded in 2012, Sirion's AI-powered capabilities enable enterprises to drive business velocity and outcomes, reduce risk and enhance revenue and savings in commercial engagements. With more than 500 employees across three continents, SirionLabs enables companies such as Vodafone, Unilever, AbbVie, BP, Credit Suisse and EY to manage contracts.