Gurgaon based SaaS company, SirionLabs raised a funding of $12.25 million in Series B round which was led by its existing investor Sequoia Capital India. Other investors participated in this round includes Canopy Ventures and QualGro Asean Fund. Former executive VP and Chief product officer at SAP, Sanish Mondkar will joined the board
Funds will be utilized in research & development and expansion.
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.”
It was founded by Ajay Agrawal in 2012. A provider of SaaS products which focus on its post signature management of complex services contracts. Sirion, its proprietary suite reduced cost of supplier governance function by automating complex procedures across key governance disciplines including performance, relationship, financial, risk management and contract.
Shailendra Singh, Managing Director, Sequoia Capital India Advisors said
“SirionLabs has created a platform to manage strategic services engagements at large corporations. The product-market fit has gotten strongly validated since Sequoia’s Series A investment. We have been positively surprised by the scale of Sirion’s impact in their enterprise customers and are excited to continue to back Ajay and team to take SirionLabs to the next level.”