SirionLabs Surges Ahead in the Enterprise CLM Market, Nearly Doubles Revenue YoY, Announces Global Expansion
Company strengthens leadership position in the enterprise contract management market, expands executive team with strategic additions, opens three new global offices
Seattle, WA – October 20, 2021 — SirionLabs, the leading provider of AI-powered smarter contracting technology, today announced several new milestones and developments demonstrating the strong momentum that the company continues to experience in the enterprise contract lifecycle management (CLM) market. SirionLabs continued its hypergrowth over the past twelve months, nearly doubling revenue and adding a record number of new customer logos. The firm also announced the expansion of its global presence with three new offices in Germany, France, and Australia. This expansion accompanies the continued growth of its workforce across all functions including technology, implementation services, sales & marketing, pre-sales, and customer success teams.
SirionLabs’ smarter contracting platform – SirionOne – offers the most powerful contract AI in the market, acknowledged by analysts and customers for its unmatched depth, speed, and accuracy. Unlike conventional CLM tools that use AI in a limited, siloed capacity, SirionOne seamlessly leverages AI across the full contracting process – from digitization and analysis of legacy contracts, to automated legal review and risk assessment during contract negotiations. Through this holistic approach, SirionOne drives business acceleration while improving risk mitigation and maximizing business value for clients.
“The new generation of AI powered CLM promises to transform the contracting experience for enterprises, but clients will need to cut through the hype and look for real impact. From day one, SirionOne has been built with AI at its core giving it an edge over conventional CLMs retrofitted with AI apps.” Said Ajay Agrawal, Co-founder and CEO, SirionLabs. “SirionOne’s integrated AI design, combined with category-leading capabilities such as self-learning AI, proprietary Out-of-the-Box ML model pre-trained on millions of contracts, multi-language capabilities, and seamless integrations, gives enterprises a strategic advantage by simplifying access to real-time contract intelligence across the contracting lifecycle.”
Key Additions to the Global Leadership Team
In order to seize the growth opportunity in the contract management software market, SirionLabs has recently added several strategic hires to its sales leadership team including CLM veteran Rajeev Kumar as Chief Revenue Officer and Laura Mersinger and Joe VanLoy as sales Vice Presidents. The company has quadrupled its global sales team with new hires across all key customer markets including the US, the UK, Germany, and France. SirionLabs is also expanding its team of presales and solution consulting experts further strengthening its technical expertise in designing and delivering effective contract management solutions to meet the needs of its enterprise customers.
Further, SirionLabs recently announced the appointment of Thomas Hall, formerly of KPMG, as its Chief Legal Officer. An accomplished lawyer and executive with more than 30 years of professional experience, Hall will drive enhancement of the company’s legal department to support revenue growth, customer experience, and expansion of SirionLabs’ global presence.
Rapid Expansion of Customer Base and Partner Ecosystem
SirionOne is today the preferred CLM for industry-leading organizations to streamline contract management by connecting all enterprise teams on a unified platform through real-time contract intelligence and seamless collaboration across the contracting lifecycle. It’s trusted by 200+ industry-leading organizations including Vodafone, The Bank of New York Mellon, Unilever, and Chemours, among others. In 2021, SirionLabs’ client roster has rapidly expanded with the addition of prestigious new logos including Alstom, Health Care Service Corporation (HCSC), Deutsche Post DHL, Aéroports de Montréal, and Indosat Ooredoo, among others.
SirionLabs has also strengthened its global network of alliances and technology partnerships with leading firms such as AWS, SAP, Tealbook, Fluxym, Syke, and CATS CM.
“Demand for SirionLabs’ smarter contracting technology continues to surge as enterprises look for ways to become more agile while strengthening financial and operational resilience.” said Rajeev Kumar, Chief Revenue Officer at SirionLabs. “With the strategic role that CLM plays today within the modern enterprise, companies are looking to shift and upgrade from the sub-optimal digital contract repositories to the next generation of smarter contracting. SirionLabs has a dominant position in the enterprise CLM market due to its combination of end-to-end functionality, integrated AI, and focus on ease-of-use and seamless collaboration.”
Industry Recognition and Award-Winning Achievements
As an established leader in the Contract Lifecycle Management software market, SirionLabs continues to add to its impressive list of industry achievements and awards. Some of the notable industry and analyst recognitions for SirionLabs in 2021 include:
- Named a Leader in The Forrester Wave™ for Contract Lifecycle Management 2021
- Recognized as a Visionary in Gartner Magic Quadrant for the second year in a row
- Named a leader in IDC’s 2021 MarketScape for Buy-Side Contract Life-Cycle Management Applications
- Positioned as a Value Leader in SpendMatters’ 2021 CLM Solution Map – for the seventh successive time
- High Performer in all G2 Grids for CLM – Enterprise, Mid-Market, and Overall, and recognized with the ‘Users Love Us’ badge for high customer satisfactions scores
- Great Place to Work-Certified™ recognizing the company on important workplace related parameters such as trust, management credibility, respect, and camaraderie.
- Recognized by Fast Company as one of the Most Innovative Companies in the Enterprise segment in 2021
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 200 of the world’s most successful organizations to manage 5+ million contracts worth more than $450 billion across 70+ countries. For more information, visit www.sirionlabs.com.