Evisort Named a Visionary in the 2022 Gartner® Magic Quadrant™ for Contract Life Cycle Management
October 17, 2022
Learn why Evisort has been recognized as a Visionary in the 2022 Gartner Magic Quadrant for Contract Life Cycle Management.
AI-powered CLM platform recognized for completeness of vision and ability to execute
SAN FRANCISCO, Calif. - October 17, 2022 - Evisort, the no-code contract intelligence platform loved by legal, procurement, and sales operation teams worldwide, announced that Gartner® has identified Evisort as a Visionary in the Magic Quadrant™ for Contract Life Cycle Management in the company’s first recognition in the report.* The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.
Using proprietary artificial intelligence (AI), Evisort's cloud-based contract life cycle management platform transforms contracts into searchable data. The platform integrates seamlessly with companies’ existing repositories and system workflows, automatically tracks key information without manual data entry or review, and helps teams optimize negotiations and new contracts. Evisort’s solution is easy to use and delivers a rapid return on investment.
Evisort empowers companies by providing greater visibility into a business’ entire contract portfolio. Through the platform, large enterprises and lean, fast-growing companies alike can find revenue, cost savings and risk-reduction opportunities without spending hours manually analyzing each contract. Teams can also leverage a central repository for all contracts and eliminate complex contract review processes to accelerate deals.
“Evisort’s market-defining AI revolutionizes contract lifecycle management and analytics for businesses in every industry,” said Jerry Ting, Evisort CEO. “We believe being recognized as a Visionary by Gartner is a significant milestone for our company. We continue to empower our customers of all sizes with contract intelligence and provide a comprehensive solution that disrupts traditional time-consuming contract management practices.”
Evisort more than doubled its revenue in 2021 and announced a $100 million Series C fundraising round in May. In July, the company launched Automation Hub. The new feature enables anyone to easily train the AI platform to recognize clauses unique to their business with only a handful of examples and no coding experience.
The Spend Matters® Spring 2022 SolutionMap benchmarking rankings recognized Evisort as one of the best customer procurement technology solutions providers. The company was also named the Overall Leader in the Contract Management and Contract Lifecycle Management categories within the G2.com, Inc. Fall 2021 Grid Report.
Magic Quadrant reports are a culmination of rigorous, fact-based research in specific
markets, providing a wide-angle view of the relative positions of the market’s competitors. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. We believe using this information, companies can maximize market analysis in alignment with their unique business and technology needs. For a complimentary copy of the 2022 “Magic Quadrant for Contract Life Cycle Management,” please visit here.
* Source: Gartner, “Magic Quadrant for Contract Life Cycle Management,” Patrick Connaughton, Kaitlynn Sommers, Micky Keck . October 2022.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of the Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER and Magic Quadrant are a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Evisort is the leading transformative business solution for contract management and analysis. Powered by proprietary artificial intelligence (AI) trained on 10M+ contracts and billions of data points, Evisort’s technology parses the nuanced context and meaning of legal language and helps teams protect, scale, and accelerate their businesses. Headquartered in Silicon Valley, the company serves legal, IT, finance, and procurement organizations around the world.
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