Evisort Pulls In $35M Series B Round
SAN MATEO, CA, Evisort today announced $35 million in Series B funding following a year of 4x revenue growth.
Evisort, the intelligent contract management platform, today announced $35M in Series B funding following a year of 4x revenue growth, bringing its total funding to $55.5M. Global growth equity investor General Atlantic led the round, with participation from existing investors Amity Ventures, Microsoft's venture fund M12, and Vertex Ventures. General Atlantic's Operating Partner and former GE CIO Gary Reiner will join Evisort as a board member. The company will use the funds to grow its customer success team, expand its platform to include more workflow-specific offerings, and continue to push the boundaries of its pre-trained AI.
Evisort will use the Series B funds to accelerate its AI development and expand its platform to include more workflow offerings tailored to specific industries, such as financial services, healthcare, and tech. The company will also focus on delivering a best-in-class user experience, quadrupling its customer success team to help clients create their own digital contracting Centers of Excellence.
Founded in 2016 by Harvard Law and MIT researchers, Evisort leverages artificial intelligence (AI) to help businesses categorize, search, and act on business-driving documents of any type. Evisort's proprietary AI understands meaning and context in legal language, eliminating the need for manual data entry and parsing of contracts or business documents. The company is backed by leading strategic and institutional investors including General Atlantic, M12, Microsoft's venture fund, Vertex Ventures, and Amity Ventures. Headquartered in Silicon Valley, more information on Evisort can be found at Evisort.com.
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