CLM leader Sirion acquires AI-powered Zendoc

By VARINDIA - 2022-11-10

CLM leader Sirion acquires AI-powered Zendoc

Global leader in artificial intelligence (AI)-powered contract lifecycle management (CLM), SirionLabs has announced that contract automation platform Zendoc has joined the Sirion team. This expansion further deepens Sirion’s leadership and commitment to the applications of AI in enhancing CLM as a category. The Zendoc team’s knowledge and experience in creating intuitive AI-powered solutions to manage contracts is a valuable addition to Sirion’s engineering and product talent.

 

Through the Zendoc acquisition, Sirion is also establishing a Center of Excellence (CoE) in Nice, France, located in the heart of the region known as the European Silicon Valley. 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 to provide customers with a world-class user experience in the complex arena of legacy document migration. This heightened usability and deeper emphasis on customer experience will further solidify Sirion’s leadership position in the CLM market.

 

The research and development (R&D) 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.”


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