AI-Powered Contract Management Company Evisort Raises $4.5 Million
The artificial intelligence-backed contract management provider is eyeing improving its software to make it 'ready out of the box' for clients.
February 15, 2019 at 09:30 AM
3 minute read
The original version of this story was published on Legal Tech News
Jerry Ting, CEO and co-founder of Evisort
Contract management company Evisort recently announced it raised $4.5 million, joining other legal tech companies in securing investments early in the year.
The seed funding was led by Village Global and Amity Ventures with participation from Accenture, SAP, Walt Disney executives and an undisclosed partner from Ropes & Gray. Serra Ventures is a new investor, said Evisort co-founder and CEO Jerry Ting.
Evisort's artificial intelligence (AI)-powered features include classifying documents by document and contract type and extracting provisions, financial information and other data. For legal, Evisort provides instant analysis of thousands of contracts in a short time frame, allowing attorneys to focus on pertinent data. But the benefits of such speedy analysis also extends to non-law departments. Indeed, Evisort touts its usability for non-lawyers for extracting data from documents for billing and revenue reporting to drive negotiations.
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