SirionLabs, a provider of enterprise SaaS products, has raised $12.25 Mn (INR 81.5 Cr) in a Series B round led by existing investor Sequoia Capital India. Besides, QualGro Asean Fund and Canopy Ventures also participated in the round.
Founded in 2012 by Ajay Agrawal, SirionLabs is the provider of enterprise SaaS products, focused on post-signature management of complex services contracts. SirionLabs’ proprietary suite, Sirion, significantly reduces the cost of supplier governance function by automating complex procedures across key governance disciplines like contract, performance, financial, relationship and risk management.
The startup plans to utilise the funds to support expansion and R&D.
Ajay Agrawal, co-founder & CEO of SirionLabs, said, “We are planning to set up a hub in Silicon Valley and start bringing in talent from the valley. We are going to use the money for R&D in automation. We want to move to 100% automation.”
SirionLabs was also the winner of IBM’s Smartcamp 2015 challenge. Earlier in 2014, SirionLabs had raised $4.7 Mn in Series A from Sequoia Capital.
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