Evisort is a San Mateo, California–based no-code contract intelligence and management platform used by legal, procurement, and sales operations teams worldwide. Its technology is powered by proprietary AI trained on 10M+ contracts and billions of data points to parse the nuanced context and meaning of legal language. In May 2022 the company raised $100 million in a Series C consisting of equity and venture debt financing. The round was led by TCV and included Breyer Capital, General Atlantic, Microsoft’s venture capital fund M12, Amity Ventures, Vertex Ventures, and other major existing investors. Evisort said it will use the funds to enhance the customer experience, continue to invest in its product, and accelerate global growth. TCV General Partner Amol Helekar will join Evisort’s board of directors. Evisort is an AI-powered contract management platform that helps businesses categorize, search and act on contracts and other business documents. Its proprietary AI understands meaning and context in legal language, eliminating the need for manual data entry and parsing. The post-signature product, Evisort Contract Management, can read a 30-page document in 15 seconds and extracts actionable insights through integrations with CRM, ERP, HR, and finance systems. In July 2020 the company launched Evisort Contract Workflow to automate the entire contract lifecycle from creation through negotiation to signature. The company intends to use new funding to grow its customer success team, expand workflow-specific offerings, and continue to extend its pre-trained AI. Founded in 2016 and led by CEO Jerry Ting, Evisort is based in San Mateo, California. Evisort provides an AI-powered contract intelligence platform that automates review, assessment, approval, and tracking of legal and business documents. The platform, launched in December of the prior year, extracts and visualizes 50+ key data points and legal clauses and can learn to read unstructured documents. It can be deployed securely behind client firewalls or within a private cloud, serving legal, procurement, finance, HR, and operations teams. Evisort reports more than 100 enterprise customers this year, more than half of which add multiple departments within 30 days, and says it is tracking over $40 billion worth of corporate contracts. The company plans to use new funding to grow its team, expand product offerings, enhance customer experience, and open a research and development office in Montreal with plans to hire technical staff. Evisort was founded in 2016 by Harvard Law and MIT researchers and is headquartered in Silicon Valley. Evisort is an artificial-intelligence contract and document management company that says it organizes customers' legal documents and extracts relevant information quickly. Founded in 2016 by former Harvard and MIT students, the startup claims it can evaluate a 30-page contract and pull out the most relevant information in seconds. The company raised $4.5 million in seed funding led by Village Global and Amity Ventures, with participation from Accenture and SAP. Customers mentioned in the report include Stack Overflow and TravelZoo, and the exposed database contained agreements with Samsung and a Squarespace agreement signed by CEO Jerry Ting. TechCrunch reported that an unsecured Elasticsearch development database exposed many documents—some marked as dummy or test files, but others containing sensitive customer data such as NDAs, employee contracts, resumes, and loan agreements (one worth $200 million). Evisort shut down the database within an hour of being notified, said the database was part of a development environment, and acknowledged that a small number of legitimate documents may have been exposed. The company said it is retaining an outside forensic firm to assess impact, is investigating with available logs, and will communicate directly with any customers who could be affected; data search firm Binary Edge first detected the system on March 22.

Total raised

$155M

Funding rounds

5

Latest round

Series C

Latest activity

May 2022