One of history’s greatest muses once wrote that the Times are a Changin’, and nowhere is this more true than in the business world, where Automation and Artificial intelligence are beginning to come to the forefront.
If you need evidence of this, look no further than a rising company whose proprietary software actually deals with the sorting of evidence, hence its name: Evisort.
It is particularly gratifying to hear a business success story for a company that has a headquarters right here in the Bay Area. Read on to learn about Evisort’s recent seed funding round along with their plans for the future.
What is Evisort?
Evisort was developed by Jerry Ting, Amine Anoun, and Jake Sussman, all members of Forbes’ prestigious 30 Under 30. The software is a cloud based legal contract management system that utilizes artificial intelligence to find meaning in to find the meaning in a client’s documents, then sort and extract data as needed.
As anyone that’s sorted through hundreds of files in a cabinet can attest, this process can save companies many hours per week, whether they need to search through thousands of documents to find a single person or through one 40-page contract to find a specific clause.
Evisort has revolutionized the way companies and their employees interact with legal documents. This upheaval in the legal world has not gone unnoticed by the business world. In addition to a profile and several articles in Forbes, the software has been recognized on Businesswire as well by Harvard Law Today, where the software was born.
The company also caught the notice of business investors as well as arguably the three most prominent names in the tech world.
Jeff Bezos, Mark Zuckerberg, and Bill Gates are all backers at Village Global, a firm that offers early-stage venture capital to promising businesses and played a prominent role in what followed.
Seed Funding Announced
On February 19th, 2019, Evisort announced that they had acquired $4.5 Million in seed funding from Village Global and other investors. These included Amity Ventures, Serra Ventures, and several executives from Ropes & Gray, SAP, Accenture and, of course, Disney.
With this significant funding, Evisort will be able to significantly scale their operations. While they have currently been working primarily with law firms, the Evisort software can technically be useful to any organization that deals with legal documents. As such, it can be argued that Evisort can help most businesses in a wide variety of domains. Whether it is a company dealing with NDAs & employee contracts or a giant bank with millions of documents, Evisort’s software will be able to help streamline and maximize the efficiency of a client’s searches for data.
As such, the seed funding will help Evisort reach out to users within different niches, which they plan to do in the upcoming year.
With their success in the legal world and move to expand into different areas, Evisort has made a significant contribution towards bringing AI to the business world. With the advent of AI in contract management, sifting through papers may soon be a thing of the past.