Evisort, a prominent company in contract management and analysis made a public announcement today over a $100 million capital raised in funding for the year. It also includes equity and ventures debt financing.
The company develops AI-powered software for legal firms. And helps companies analyze contract proceedings and documentation.
The project’s series C funding was led by one of the high-ranking global investors, TCV.
TCV’s main goal is bagging opportunities in the tech market to invest in potentially growth-demanding companies.
The firm has successfully invested in both public and private companies across the globe. These companies have become major key role firms on the internet.
The funding will encapsulate TCV’s General Partner, Amol Helekar joining the board of directors in Evisort.
The new board of directors, Helekar, said, “Contracts are core to many critical functional areas such as legal, sales, and procurement. The fact that Fortune 500 customers and mid-sized businesses alike can implement and realize value with Evisort across business functions in less than a month underscores the platform’s usability across industries and use cases.”
This round of funding had several partners that include investing companies like Breyet Capital, General Atlantic, Vertex Ventures, and Amity Ventures.
TCV has been the backbone of dominant companies like Netflix Inc, LinkedIn, and Airbnb Inc. It also has investments in legal companies like Clio and LegalZoom.com Inc.
The founders have expressed delight over the funding. They reminisce about how their company has grown over the years. Both founders were still in university when the company launched.
In a statement during the announcement of the company’s financial status, the co-founder and CEO, Jerry Ting said, “We created Evisort because it is critical for organizations to easily access and manage this data inside their contracts. We couldn’t be more grateful for the trust of our hundreds of customers to build this innovative technology with us.”
Plans for the Funding
The company plans to use the funds to develop more customer experience to boost its product and foster global growth.
Last October, the company launched a project known as Intelligent Dashboarding.
It’s a self-populating dashboard that sums up the metrics and visualizes data without needing a data entry system.
The CEOs of Evisort will go live on a webinar scheduled for May 24th. The event aims to explore several options where companies can improve the returns on their investment in contract management.
Photo by Pixabay: