By Jerry Ting, Co-Founder & CEO of Evisort
I am happy to share that we have raised $15m in Series A funding from Vertex Ventures and Microsoft.
This past year has been one of tremendous growth and learning. After raising $4.5m in our seed round in February, we were lucky to be welcomed into the market by significant customer adoption. From having only a handful of customers at the end of 2018 to working with legal and procurement teams around the world today, I cannot be more grateful to each and every individual that trusted us to manage your most important legal documents. Thank you. Thank you. Thank you.
Evisort as a team has grown significantly as well. Starting off with a big idea between two Harvard Law students from the same section and their friend at MIT, Evisort has grown to have teams in three countries. Every employee that we hire has many other options, no one joins Evisort because they couldn’t find a job somewhere else. The fact they chose to work on our shared vision and with our team is an honor and not one I take for granted.
As for what we’re going to do with the money, I’ll share a few thoughts here:
1. Invest deeply into our product based on customer feedback. In meeting with our clients, I’ve heard their requests loud and clear. There is a huge opportunity to take the data that we extract out of contracts and to make this data actionable, in the form of workflows, in-platform collaboration, customizable reports, and by integrating with other systems. Of course, we will continue our investment into R&D in building out the best AI solution for legal documents.
2. Hire the very best teammates and round out the Evisort staff by enhancing our focus on the customer experience, from having specialized sales professionals during the customer discovery process to having a dedicated support team during the client’s use of Evisort. To view a list of open jobs, please visit www.evisort.careers
3. Evangelize the Evisort product. Most prospective clients we talk to manually track data inside of contracts with tedious data entry. I believe they need an automated solution, but often don’t know there is one. We need to connect with them.
I believe we’re at the first inning of the adoption of artificial intelligence by business and legal teams. It seems almost every day I am reading about a new application of AI. We’re also just getting started here at Evisort, and our Series A will provide us fuel to truly rise up to the opportunity ahead of us.
Thanks for reading! If you want to chat AI for contracts, changes in the legal profession, or any other topic, add me on LinkedIn!