Founded Year

2016

Stage

Series C | Alive

Total Raised

$154.58M

Mosaic Score

+20 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Evisort

Evisort is a transformative business solution for contract management and analysis. Powered by proprietary artificial intelligence (AI) trained on 10M+ contracts and billions of data points, Evisort's technology parses the nuanced context and meaning of legal language and helps teams protect, scale, and accelerate their businesses. The company was founded in 2016 and is based in San Mateo, California.

Evisort Headquarter Location

177 Bovet Road, Suite 400

San Mateo, California, 94402,

United States

888-384-7678

Evisort's Product Videos

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Evisort's Products & Differentiation

See Evisort's products and how their products differentiate from alternatives and competitors

  • Contract Intelligence Platform

    Evisort’s Contract Intelligence Platform is an easy-to-use, end-to-end contract management solution combining contract lifecycle management, contract analytics, and a central contract repository that delivers rapid ROI within 30 days.

    Differentiation

    Evisort’s industry-leading AI works out-of-the-box in seconds to analyze key metadata and clauses, automating the most tedious manual components of traditional CLM solutions. Evisort is implemented … 

Expert Collections containing Evisort

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Evisort is included in 1 Expert Collection, including Artificial Intelligence.

A

Artificial Intelligence

8,693 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

Latest Evisort News

Smart Contracts Provider Evisort Raises $100 Million To Reimagine Legal Docs

May 11, 2022

May 11, 2022, Evisort D ocuSign is so 2003–or at least that’s what Jerry Ting, cofounder and CEO of rival platform Evisort would like people to think. His smart contracts provider has raised a $100 million Series C round, the company announced Wednesday. Evisort declined to provide its valuation or revenue. While DocuSign enables people to execute digital contracts, Evisort uses AI to compile, analyze and manage contracts–from drafting to signing and fulfillment–without human supervision. With its automated capabilities and flexible subscription pricing, the company has attracted over 150 business customers, $155 million in total funding and grown headcount to 200 since its 2016 inception. Despite these indicators of success, it will be a challenge for the 200-person Evisort to take on publicly traded DocuSign, which boasts a $14 billion market cap and saw revenues of $2.1 billion in 2021. Ting, who made the Forbes 2018 Under 30 Law & Policy list alongside his cofounders, is up for the challenge. With this new funding round, led by TCV with participation from Breyer Capital, General Atlantic, Microsoft’s M12, Amity Ventures and Vertex Ventures, Ting is looking for greater brand recognition “We’re at that critical turning point of a company where you have a very good product and a very loyal set of customers who are all advocates,” he says. “If we get a few more people to know that we exist, hopefully [Evisort] will spread like wildfire.” Evisort charges its customers like Microsoft and Keller Williams from anywhere from $10,000 to $1 million-plus per year to include analytics, in-platform negotiation and accountability on deliverables–features that are not all native to DocuSign’s platform. Ting, along with cofounders Amine Anoun and Jake Sussman, hopes the company will go public in the next few years–and its technology will be used to power contracts ranging from hiring interns to buying homes. While Evisort’s funding and adaptation surely excites company stakeholders, some legal scholars advise caution, as it could be detrimental to lawyers and business owners if AI contracts replace human legal counsel in some scenarios. “There’s a lot of benefit to having AI in this space, but I do think that comes with some risk to users if they try to bypass the lawyer review process,” says Samantha Prince, assistant professor of law at Penn State Dickinson Law School, who warns that a misguided AI contracts could land clients and lawyers in court. “I told my students just three weeks ago in class that you can use other people’s contracts as guides, but you can’t rely on them.” However, Evisort’s Series C round is especially notable because innovation and venture backing in the legal space is rare. Bernice Grant, senior director of Fordham School of Law’s Entrepreneurial Law Program, views Evisort’s journey as catalyzing legal startups and freeing lawyers from menial labor. “I don’t think [Evisort] will replace lawyers at all,” she says. “I think lawyers will definitely still be needed to provide sophisticated advice and counsel to clients, but I think these tools will address some of the pain points that particularly transactional lawyers have had in our practice, and it will make us faster and more efficient.” Ting first realized these inefficiencies in the legal system when he was a Bay Area high school student. Acting as a translator for his Chinese engineer father in a civil suit litigated in 2008, Ting watched his family shell out $85,000 in legal fees–only to settle the case for just $5,000. Wanting to better represent people like his father, Ting enrolled in Harvard Law School one year after graduating from University of Southern California. But later, as he worked for Massachusetts Institute of Technology graduate student researcher Amine Anoun, he realized that firms bill hundreds of dollars per hour for lawyers to simply read documents. And like most startup founders, he imagined a better way. In 2016, his better way–a version of Evisort that included the ability to analyze contracts from Google Drive and Dropbox–caught the attention of Village Global, the venture capital shop funded by Bill Gates, Jeff Bezos and Mark Zuckerberg. With $1 million in funding and a handful of clients, Ting and his cofounders moved to San Mateo, California and hired two people in their first year as a venture-backed company. Today, the company’s revenue is exclusively generated by software licensing. This offers huge potential for the Series C lead investor and TCV General Partner Amol Helekar, who likens Evisort to others in the venture firm’s portfolio: Spotify, Netflix and fellow legaltech unicorn Clio. “What we look for is franchise tech companies that we think can be category leaders,” says Helekar. “Evisort has not only built the best product in the [contracts] space and won some of the largest companies in the world, they’re also attracting really strong talent to help them build their business.” Ting is soaking it up. He enjoys driving down Highway 101 in San Francisco and pointing out the major companies that are Evisort clients, remembering the days when he’d send 100 emails pitching Evisort to net a singular response. “Every time a company buys something, sells something or hires somebody, there’s a contract that gets created in the process,” he says. “The potential is in companies of all shapes and sizes.” Send me a secure  tip .

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