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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: Company / Organization Categories
Nomination Sub Category: Company of the Year - Legal - Medium
 Nomination Title: Evisort
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2020, 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: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 189 words used.
Founded in 2016 by Harvard Law and MIT alumni, 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 legal and business teams to protect, scale, and accelerate business. Evisort is headquartered in Silicon Valley and backed by leading investors including General Atlantic, Vertex Ventures, M12 (Microsoft’s venture fund), Amity Ventures, Village Global, and Serra Ventures. Prominent customers include Microsoft, BNY Mellon, McKesson, NetApp, Keller Williams, and Jelly Belly. Evisort’s cloud-based Contract Intelligence Platform is an easy-to-use, end-to-end contract management solution with three core pillars:
- a central repository that integrates seamlessly with other leading SaaS platforms that business teams already use, enabling market-leading implementation times of up to 30 days;
- AI-powered analytics to put vital data at the fingertips of in-house counsel, contract managers, and business leaders; and
- contract lifecycle management tools to help teams standardize and streamline their workflows and processes.
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.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 245 words used.
Evisort has overcome substantial challenges to bring contract intelligence to legal and business teams throughout recent economic upheaval. The COVID-19 pandemic hit during the company’s most critical growth curve. Closing a $35 million Series B funding round in February 2021 meant that Evisort needed to tackle the goal of more than doubling the size of the company in a fully remote environment. The team knew from the outset that it would be more important than ever to proactively support Evisort’s strong, collaborative company culture in order to maintain and accelerate growth. Through a combination of deliberate programming, creative team bonding activities, and, when safe, in-person meetups, Evisort has created a workforce that is geographically dispersed, yet fully connected and committed. Going remote has enabled Evisort to retain and hire top talent regardless of location. As a result of this adaptability, Evisort made a resounding success of 2021, more than doubling both revenue and employee headcount and launching automated data tracking and reporting features. Evisort has received several accolades recognizing its outstanding leadership, technology, and customer service, including 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.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 244 words used.
The key difference between Evisort and competitors is Evisort’s powerful, proprietary AI. Simple contract management software doesn’t provide the accurate business intelligence that businesses need. That’s why Evisort created the Contract Intelligence Platform: a holistic set of AI-driven features that rapidly boost businesses’ contract management and analytics capabilities.
Evisort’s AI, trained since inception on millions of real contracts, turns contracts into searchable data. This helps users quickly find essential provisions and metadata, track actionable data in automated dashboards, and accurately report vital information about deals, partners, and customers.
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 new contracts based on language and data from past agreements.
“Although some were initially skeptical of using AI because we had worked with other platforms in the past that didn’t perform well, our team was blown away with the difference Evisort made for every single person on our team. We had this eureka moment one day because Evisort’s platform could not only identify and extract the data we needed quickly, it also helped us in the drafting and negotiations of new contracts based on ones we’d used in the past. We saved valuable time that we could then devote to more complicated issues, and money, since we were no longer looking to outsource the work somewhere else. Evisort’s AI was an absolute game-changer for us.”
Nancy Krystal, Jelly Belly Candy Company
- 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 28 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
See attached Jelly Belly case study for quotes from Nancy Krystal.
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