SirionLabs lands $85M to inject contract management with automation

Contract lifecycle management (CLM), the method of managing a contract from initiation through award, compliance, and renewal, can be costly for companies. World Commerce and Contracting estimates the average cost of a simple contract at $6,900, rising to over $49,000 for more complex agreements. The opportunity is often worth the investment, but without close contract governance, businesses stand to lose up to 40% of a contract’s value, a KPMG survey found.
The tantalizing prospect of automating the contracting process has drawn a number of entrepreneurs to the space, including UnitedLex co-f

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