San Mateo, Calif, February 3, 2020 – Today, artificial intelligence technology company Evisort unveiled its new workflow module which will offer pre-signature contract generation and approval workflows with Evisort’s industry-leading post-signature contract analytics. This announcement comes on the heels of Evisort’s recent announcement of a $15m investment round led by Microsoft’s M12 and Vertex Ventures.
Due for release in Q2 2020, Evisort’s end-to-end solution allows enterprises to unify their contracting process in one centralized framework. For example, today, if salespeople need to have third-party contracts reviewed, they email legal and have little visibility throughout the contract review process. Approval of the contract requires collaboration with multiple departments like legal, finance, compliance, and accounting.
Evisort streamlines this process with contract generation and workflow capabilities which are highly customizable. Powered by AI trained on millions of documents, Evisort will help companies close more deals quickly with a modern contract review intake process and triaging system.
The new pre-signature system will integrate seamlessly with Evisort’s incumbent contract analytics product, currently used by Fortune 500 companies and fast-growing startups alike. The new Evisort platform transforms into an automated, intelligent operating system that centralizes and extracts key data from contracts stored across several repositories like SharePoint, Box, Salesforce, and more.
Evisort will be demonstrating its pre-signature contract generation and workflow approval system and its post-signature Document Analyzer tech at Legalweek NY this week. Find them at Booth 3008 in Americas Hall 2 or email [email protected] to set up a demo.
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 best-in-class AI understands meaning and context in legal language, eliminating the need for manual data entry and parsing of contracts, business or legal documents.
Evisort customers include Brooks Brothers, Cox Automotive, Fujitsu, and TravelZoo. More than half of Evisort customers have added multiple departments such as legal, finance, procurement or HR as users to the platform within the first 30 days of their engagement. Evisort estimates that it is tracking and helping companies manage more than $40 Billion worth of corporate contracts.
The company is backed by leading strategic and institutional investors including Vertex Ventures, M12, Microsoft’s venture fund, Amity Ventures, Village Global, and Serra Ventures. Headquartered in Silicon Valley, more information on Evisort can be found at evisort.com, on Twitter at twitter.com/evisort, on Facebook at facebook.com/evisort, on their blog on medium.com/evisort, and on LinkedIn at linkedin.com/company/