TPG Capital and Warburg Pincus are in preliminary talks to buy a large stake in Sirion Labs for more than $500 million
The contract automation platform has expanded rapidly, bolstered by earlier backing from Peak XV, Brookfield Growth and Avatar Capital
Sirion’s growing AI capabilities have made it a prime target amid rising demand for automation software
TPG, Warburg Eye Majority Stake in Sirion Labs in $500 Mn Deal Talk
TPG Capital and Warburg Pincus are reportedly exploring a major investment in Sirion Labs, a fast-growing contract automation software firm backed by Partners Group. The two private equity giants are weighing a controlling stake worth over $500 million
TPG, Warburg Eye Majority Stake in Sirion Labs in $500 Mn Deal Talk Freepik
Summary
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TPG Capital LP and Warburg Pincus have reportedly started early stage discussions to buy a stake in Sirion Labs Pvt, a Partners Group Holding AG-backed software business managing and automating contracts, according to a report published by Bloomberg.
The private equity firms are considering acquiring a controlling stake valued at more than $500 million. Currently, the talks are still underway and additional investors may also join the deal, the report said. The potential buyout highlights growing investor interest for AI-driven digital companies that streamline workflows and cut down on manual, routine tasks.
Founded in 2012, Delhi-based Sirion Labs moved its headquarters to the US. Last year, the platform had acquired Eigen Technologies, which pushed its valuation to $1 billion. Ajay Agrawal, a cofounder of Sirion Labs, previously helped establish UnitedLex Corp., which saw CVC Capital Partners Plc acquire a controlling stake in 2018.
Sirion Labs itself counts Peak XV Partners, Brookfield Growth and Avatar Capital among its key backers.
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The platform provides an advanced contract lifecycle management platform. Its AI-led tools help legal and commercial teams draft agreements, extract key clauses, track obligations, and oversee everything from live contract performance to renewals and eventual closure.
In 2023, SirionLabs secured $25 million as an extension of its Series D round from Brookfield Growth, which brought the total raised in that round to $110 million.
Before this extension, the Washington-based SaaS company had already collected $85 million from investors such as Partners Group, Avatar Capital, Sequoia Capital, Tiger Global and others.
Overall, the startup has amassed close to $170 million across multiple funding rounds. It has also expanded its product capabilities with the acquisition of Seattle-headquartered contract automation start-up Zendoc, though the deal value was not disclosed.
The platform claims to have more than 3.5 million contracts across over 100 countries.
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