A Smarter Contracting Platform: Why We Invested in SirionLabs
Brookfield Growth is pleased to announce its participation in the $110M Series D round for SirionLabs (“Sirion”), a leading provider of enterprise-grade contract lifecycle management (“CLM”) solutions. We are excited to work alongside our friends at Partners Group, Sequoia India, and Tiger Global.
Contracts are the backbone of any large enterprise, and CLM is the emerging single-source-of-truth system for those contracts. Sirion’s software provides a collaborative workflow and centralized repository for sales, procurement, legal, and finance teams to manage complex contracts. Sirion replaces the industry norm of manual redlining, signing, and storing contracts in siloed analog systems with a digital platform that connects all stakeholders, resulting in improved transparency, reduced business risk, and meaningful efficiency gains. Sirion is a recognized leader in extracting data from analog contracts to provide obligation management and in-depth governance which has enabled the company to rapidly scale to manage over 5 million contracts worth over $450 billion of value.
At Brookfield, one of the largest global asset managers with $750B of AUM, we know the pain points associated with complicated trade agreements. Ahead of our investment, Brookfield and its operators recognized Sirion’s unique capabilities through a multi-vendor assessment and began to adopt the technology across several global assets. As an existing customer at the time of our investment, we are excited about Sirion’s relationship with the Brookfield Ecosystem and our ability to impact the company’s growth.
The company was most recently recognized by Gartner as a leader in the 2022 Magic Quadrant for Contract Life Cycle Management, Sirion was ranked first in three of five use cases — including for full lifecycle enterprise CLM — in the 2022 Gartner® Critical Capabilities for Contract Life Cycle Management. Sirion was also named a leader in the 2021 Forrester Wave and the 2021 IDC MarketScape reports for CLM.
At Brookfield Growth, we are proud to invest in bold entrepreneurs and innovative companies that redesign how our digital world meets the physical one. Sirion fits Brookfield Growth’s mission to partner with scaled software businesses supporting critical use cases and recognized as global category champions. We are thrilled to partner with Sirion as an investor and a customer to further expand its platform globally.
About Brookfield Growth
Brookfield Growth is the flagship technology investment arm of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with approximately $750 billion of assets under management. More information is available at www.brookfield.com.
About SirionLabs
Bringing together category-leading innovation, unrivaled Contract Lifecycle Management expertise, and a deep commitment to customer success, SirionLabs helps the world’s leading businesses contract smarter. Powered by intelligence uniquely connected across the complete contract lifecycle, SirionLabs’ easy-to-use, highly configurable Smarter Contracting platform brings legal, procurement, sales, and business teams together to author stronger contracts, improve risk management and strengthen counterparty relationships. SirionLabs is trusted by over 250 leading organizations to manage 5+ million contracts worth more than $450 billion across 70+ countries. For more information, visit www.sirionlabs.com.
