Company: Evisort, San Mateo, CA
Company Description: Founded in 2016 by Harvard Law and MIT alumni, Evisort is the leading provider of AI-driven contract management technology that leverages natural language processing and deep learning to empower legal and business teams to protect, scale, and accelerate business. Evisort more than doubled revenue and employee headcount in 2021.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Legal Solution
 Nomination Title: Evisort’s Contract Intelligence Platform
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
The current version of Evisort’s Contract Intelligence Platform, including new, automated dashboards and reporting, soft-launched in October 2021 and became generally available in January 2022.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 346 words used.
Evisort is the leading provider of artificial intelligence (AI)-driven contract management technology that leverages natural language processing, machine learning, and deep learning to empower users to protect, scale, and accelerate business.
The key difference between Evisort and competitors is Evisort’s powerful, proprietary AI. Simple document storage or contract management software doesn’t give business teams the accurate business intelligence and intuitive collaboration tools they need. This is why Evisort created the Contract Intelligence Platform: a holistic set of AI-fueled, cutting-edge features that rapidly boost businesses’ contract management and analytics capabilities and help them make better deals through data.
This cloud-based platform is an easy-to-use, end-to-end contract management solution with three core pillars:
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a central repository that integrates seamlessly with other popular business software platforms, enabling implementation within 30 days;
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AI-powered analytics to put vital data at the fingertips of in-house counsel, contract managers, and business leaders; and
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contract lifecycle management tools to help standardize and streamline operations.
Evisort’s AI instantly turns contracts into searchable data, helping teams quickly identify key terms and non-compliant language across entire portfolios. The AI uses context to classify clauses based on content instead of titles or formatting.
Evisort’s AI can do that because it’s been trained since inception on millions of real contracts and clause examples. It’s powerful enough to retroactively categorize and track terms from all of a business’s existing contracts, including dozens of common provision types “out of the box,” and industry- or business-specific terms that it learns over time.
Evisort’s advanced contract analytics and intuitive interface help users quickly find essential provisions and metadata, track actionable contract data in new, automated dashboards, and accurately report on mission-critical information about deals, partners, and customers with customizable reports. The AI delivers rapid ROI by eliminating manual data entry and enabling teams to efficiently draft, redline, approve, sign, report on, and renew contracts.
Contract intelligence gives business leaders more time and information to analyze their business relationships, make strategic decisions in the organization’s best interest, and optimize the terms in their new contracts based on language and data from past agreements.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 334 words used.
In 2021, Evisort more than doubled revenue and employee headcount while navigating the pandemic, bringing best-in-class AI for contracts to businesses throughout industries ranging from real estate, to entertainment, to finance and beyond.
Evisort closed a $35 million Series B funding round in February 2021. The company has received several recent awards and honors recognizing the company’s leadership and the outstanding performance of its technology and customer service. Notable accolades include being recognized as a leading provider of procurement technology in the Spend Matters® Fall 2021 SolutionMap for Contract Lifecycle Management, being a leader in G2's contract management rankings, ranking #25 on Growjo’s Top 100 List of the Fastest Growing Companies in Silicon Valley for 2021, and being one of just two legal tech companies named among the Business Intelligence Group’s inaugural Artificial Intelligence Excellence Award winners in 2022.
Testimonials
“Evisort is one of the most versatile tools I have ever used. From the simplicity of the approach, to the AI and the self-configurable workflows, it's easy to get an ROI in a couple of months. Most importantly, this tool was developed by attorneys with performance and deep AI understanding in mind. The tags that come out of the box could replace more than $1M in consulting fees alone.”
Travis Somerville, Keller Williams
“We were able to take 8,000 contracts and ingest them into Evisort’s solution in just over 15 hours. This was an incredible productivity saving and something that would have taken us numerous manual man hours had we tried to do it outside of an automated solution.”
Joshua Klein, Plug Power
“We go through…approximately 800 contract documents in any given year. What Evisort allows us to do is to focus on those contracts that actually need our attention. We’ve probably been able to reduce the number of contracts that our legal team needs to do an in-depth review by a third.”
Jonathan Sickler, AE2S
Customer Reviews
www.capterra.com/p/187087/Evisort/reviews/
www.gartner.com/reviews/market/contract-life-cycle-management/vendor/evisort/product/evisort-contract-intelligence-platform
www.softwareadvice.com/contract-management/evisort-profile/
www.g2.com/products/evisort/reviews
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 17 words used.
www.evisort.com
Customer Reviews
www.capterra.com/p/187087/Evisort/reviews/
www.gartner.com/reviews/market/contract-life-cycle-management/vendor/evisort/product/evisort-contract-intelligence-platform
www.softwareadvice.com/contract-management/evisort-profile/
www.g2.com/products/evisort/reviews
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