Sirion, a Lehi, UT-based AI-native contract lifecycle management (CLM) company, acquired Eigen Technologies, a NYC-based company which specializes in document AI for financial services.
The amount of the deal was not disclosed.
The acquisition will bring Eigen’s expertise in financial services, regulation and model governance to Sirion’s customers.
Led by CEO and Founder Dr Lewis Z. Liu, Eigen is an intelligent document processing (IDP) company that enables its clients to extract answers from their documents, so they can manage risk, scale operations, automate processes and navigate dynamic regulatory environments. Its customizable, no-code AI-powered platform uses machine learning to automate the extraction of answers from documents and can be applied to a wide variety of use cases. It understands context and delivers better accuracy on far fewer training documents, while protecting the security of clients’ data. Its clients and partners include Goldman Sachs, ING, Citi, Orrick, Fortress, BNP Paribas and Deloitte.
Led by CEO and Founder Ajay Agrawal, Sirion provides an AI-native CLM platform that specializes in applying generative AI to help enterprises transform the way they store, create, and manage contracts. The platform’s extraction, conversational search, and AI-led negotiation capabilities have powered contracting across enterprise teams – from legal and procurement to sales and finance. Brands such as IBM, Unilever, Ferrari, BNY Mellon, DHL, KPMG and Vodafone use it to manage 7M+ contracts worth nearly $800B and relationships with 1M+ suppliers and customers in 100+ languages.
FinSMEs
06/06/2024