SirionLabs, a global leader in AI-powered contract lifecycle management (CLM), announced the acquisition of contract automation platform Zendoc. With this expansion Sirion aims to further enhance its commitment to the application of AI in CLM. Through the Zendoc acquisition, SirionLabs is also establishing a Center of Excellence (CoE) in Nice, France, located in the region known as the European Silicon Valley, as stated by SirionLabs.
This new European CoE joins a recently established Sirion CoE in Toronto as the company continues to scale up just months after its $85 million Series D funding round in May led by Partners Group.
“The war for talent is global, and we’re thrilled to be adding such skilled professionals to the Sirion team as well as gaining a foothold in a key region for tech development,” said Ajay Agrawal, co-founder and CEO of Sirion. “Their world-class engineering expertise moves the needle on our data-centric approach to building a better, faster, more powerful CLM platform.”
The knowledge that Zendoc’s engineers bring to Sirion will be instrumental in the company’s data-centric AI strategy, which utilizes datasets to improve the performance of AI models. The accretion of data for applied AI learning achieves a data network effect that will ultimately increase value for Sirion users by enabling productivity gains, reducing contract risk and decreasing contract value leakage.
Zendoc brings to Sirion a talented team of engineers that will focus on enhancing the user interface (UI) and user experience (UX) for the Sirion CLM platform. Through this, Sirion aims to provide customers with a better user experience in the complex arena of legacy document migration. According to Sirion, this heightened usability and deeper emphasis on customer experience will further solidify the company’s leadership position in the CLM market.
Sirion’s engineering CoE in Nice expands the company’s presence in Europe—which continues to be a key market for business and talent. As Sirion stated, Nice is globally recognized as a hub of technical innovation and education, making it an ideal location for the new CoE. In addition to increasing Sirion’s global talent pool, this expands the company’s geographic reach and ability to provide localized technical support for its European customers.
The research and development team at the CoE in France, along with the team at the CoE in Toronto, will use customer feedback and insights to drive the next stage of Sirion’s product development and accelerate Sirion’s AI-first trajectory. Key areas of focus include contract analytics visualization and AI data model training to respond to the evolving needs of the modern agile enterprise.
Zendoc’s co-founder and CEO Laurent Lathieyre will assume the role of Sirion’s Head of Post Signature Applications.
“Joining forces with Sirion and establishing the Engineering CoE enables us to fuel innovation that makes enterprise contracting simpler, smarter and more intuitive—as well as reaching scale to achieve a data network effect,” said Lathieyre. “Nice and the French Riviera have earned a reputation as an elite incubator for tech innovators, and the new CoE strengthens our ability to attract the very best engineering talent to the Sirion team.”
SirionLabs’ goal is to help leading businesses to contract smarter. Powered by intelligence connected across the complete contract lifecycle, SirionLabs’ Smarter Contracting platform brings legal, procurement, sales, and business teams together to author stronger contracts, improve risk management and strengthen counterparty relationships. According to SirionLabs, the company is trusted by over 250 leading organizations to manage 5+ million contracts worth more than $450 billion across 70+ countries.