Evisort Secures $15M in Funding from Microsoft's M12 for Revolutionary AI-Based Contract Management

Evisort has recently announced a $15 million Series A funding round led by Microsoft's venture capital fund, M12. The news has sent ripples throughout the legal tech industry, as Evisort is poised to revolutionize the way businesses manage and extract value from their contracts. With its cutting-edge AI technology and innovative approach to contract management, Evisort is quickly becoming a household name in the world of legal tech.

What sets Evisort apart from other contract management platforms is its ability to not only store and organize contracts but also extract valuable data from them. By using advanced natural language processing and machine learning algorithms, Evisort is able to identify key provisions, clauses, and obligations within contracts, making it easier for businesses to understand their contractual obligations and risks.

Moreover, Evisort's AI technology can automatically categorize and tag contracts, making it easier for businesses to search, filter, and analyze their contracts. This means that businesses can quickly find specific contracts or clauses, identify potential compliance issues, and extract valuable insights from their contracts.

But Evisort isn't just about managing contracts more efficiently. It's also about reducing risk and improving compliance. By automating many of the tasks associated with contract management, such as tracking renewal dates and managing approvals, Evisort can help businesses reduce the risk of missed deadlines, noncompliance, and other legal issues.

Another key feature of Evisort is its ability to integrate with other business systems, such as CRM and ERP systems. This means that businesses can easily link their contracts to other important data, such as customer information or financial data, making it easier to make informed decisions based on all available information.

With its recent funding round, Evisort is poised to expand its reach and continue developing its innovative technology. The backing of Microsoft's M12 is a strong vote of confidence in Evisort's potential, and it's likely that we'll see even more exciting developments from this legal tech startup in the near future.

However, as with any new technology, there are also concerns about the potential impact of AI on the legal industry. Some critics argue that AI-powered contract management platforms like Evisort will ultimately replace human lawyers or reduce the need for legal expertise.

While it's true that AI can automate many of the routine tasks associated with contract management, such as reviewing and analyzing contracts, it's unlikely that AI will completely replace human lawyers. Instead, AI will likely complement and enhance the work of lawyers, by allowing them to focus on higher-level tasks that require human judgment and creativity.

Furthermore, AI-powered contract management platforms like Evisort can actually help lawyers provide better service to their clients. By automating many of the routine tasks associated with contract management, lawyers can free up more time to focus on providing strategic advice and counseling to their clients.

In conclusion, Evisort's recent funding round is a testament to the company's innovative approach to contract management and its potential to revolutionize the legal tech industry. With its cutting-edge AI technology, Evisort is poised to help businesses reduce risk, improve compliance, and extract value from their contracts like never before.

Evisort 15m Microsoft M12: Introduction

Evisort is a legal tech company that uses artificial intelligence to help businesses manage their contracts more efficiently. The company recently raised $15m in a funding round led by Microsoft's venture capital arm, M12. This investment will help Evisort continue to develop its AI-powered contract management platform and expand its customer base.

How Evisort Works

Evisort's platform uses natural language processing (NLP) technology to analyze and extract data from contracts. This allows businesses to quickly search and identify key terms and clauses within their contracts, such as expiration dates or payment terms. The platform also helps to automate contract workflows, such as approvals and renewals, saving businesses time and reducing the risk of errors.

Natural Language Processing

NLP is a branch of artificial intelligence that focuses on the interaction between computers and human languages. Evisort's NLP technology allows the platform to recognize and understand the meaning behind words and phrases in contracts, making it easier for businesses to find and manage their contracts.

Automation

Evisort's platform also includes automation features that can help businesses streamline their contract management processes. For example, the platform can automatically route contracts to the appropriate people for review and approval, reducing the need for manual intervention.

The Benefits of Evisort

By using Evisort's platform, businesses can improve their contract management processes in several ways. For one, they can reduce the risk of missed deadlines or other contractual obligations, which can lead to costly legal disputes. Additionally, the platform can help businesses identify opportunities for cost savings or revenue generation by analyzing contract terms and identifying areas for negotiation.

Risk Reduction

Failing to meet contractual obligations can be expensive for businesses, both in terms of legal fees and lost revenue. By using Evisort, businesses can more easily keep track of their contracts and ensure that they are meeting their obligations.

Cost Savings

Evisort's platform can help businesses identify areas where they can save money or generate additional revenue. For example, the platform can identify contracts with automatic renewal clauses and suggest renegotiation opportunities to save costs.

The Future of Evisort

With Microsoft's investment, Evisort is well-positioned to continue developing its platform and expanding its customer base. The company has already attracted a number of large enterprise clients, including Coca-Cola and Fujitsu, and is looking to expand further into new verticals, such as healthcare and financial services.

Expansion Plans

Evisort is planning to use the funding from Microsoft to expand its sales and marketing efforts, as well as invest in product development. The company is also looking to expand its presence globally, particularly in Europe and Asia.

Industry Recognition

Evisort has already received recognition from the legal tech industry, having been named a Cool Vendor by Gartner in 2020. With Microsoft's support, the company is likely to continue gaining recognition for its innovative approach to contract management.

Conclusion

Evisort's AI-powered platform has the potential to revolutionize the way businesses manage their contracts. With Microsoft's investment, the company is well-positioned to continue developing its technology and expanding its customer base. As businesses increasingly look to automate their contract management processes, Evisort is poised to become a major player in the legal tech industry.
Evisort is a high-powered Contract Lifecycle Management (CLM) software that uses Artificial Intelligence (AI) to automate and streamline contract data. Its exceptional contract analytics help users identify critical insights and trends in their agreements, making it an essential tool for organizations. Evisort 15m Microsoft M12 is an updated version that seamlessly integrates with Microsoft technologies, enabling users to access its powerful AI functionality within Microsoft 365 and other Microsoft products. It provides enhanced contract management capabilities to help organizations streamline their entire contract lifecycle, from drafting to negotiation to post-execution management. One of Evisort 15m Microsoft M12's key features is automated data extraction, which reduces the time-consuming process of manual data entry. The AI-powered extraction engine analyses contracts and automatically extracts relevant data, such as key dates, obligations, and contract terms. This feature saves organizations time and resources and helps them focus on more important tasks. Evisort 15m Microsoft M12 also helps organizations improve compliance by providing real-time alerts for approaching deadlines, missing signatures, and other compliance-related issues. Users can prioritize tasks and oversee contract compliance with ease, making it an essential tool for organizations that want to stay compliant with regulations. The streamlined contract review functionalities of Evisort 15m Microsoft M12 reduce the need for manual review and enhance the accuracy of results. The AI-powered review engine analyses contracts against pre-defined clauses, identifies inconsistency, and flags potential issues such as non-compliance. This feature helps organizations save time and improve the accuracy of their reviews. Evisort 15m Microsoft M12 supports seamless collaboration across teams, departments, and stakeholders. Team members can easily access and manage contract information, collaborate on changes, and share documents with clients and vendors, all in one place. This feature improves communication and collaboration, making it easier for teams to work together towards a common goal. The robust reporting and analytics functionalities of Evisort 15m Microsoft M12 provide users with in-depth insights and reports on key contract-related metrics such as contract volume, spend, and cycle time. These insights enable more informed decision-making and better contract management. Users can identify areas for improvement and make data-driven decisions to optimize their contract management processes. Evisort 15m Microsoft M12 offers secure and compliant storage of all contract data. Users can store their contracts in a centralized repository, with permissions-based access controls, and automated retention policies to avoid legal or compliance risks. This feature ensures that organizations comply with regulatory requirements and reduces the risk of non-compliance-related issues. By automating contract-related tasks and workflows, Evisort 15m Microsoft M12 enhances productivity and efficiency, freeing up time for organizations to focus on core business operations and growth initiatives. This feature improves the overall efficiency of organizations and helps them achieve their objectives faster and more efficiently. In conclusion, Evisort 15m Microsoft M12 is an essential tool for organizations that want to streamline their contract management processes and improve compliance. Its AI-powered features automate tasks and workflows, saving organizations time and resources, and its robust reporting and analytics functionalities provide users with in-depth insights into their contract-related metrics. The seamless integration with Microsoft technologies makes it easy for users to access its powerful AI functionality within Microsoft 365 and other Microsoft products, making it an essential tool for organizations that use Microsoft products.

Revolutionizing Contract Management with Evisort 15m Microsoft M12

The Story of Evisort 15m Microsoft M12

Evisort is a contract management software that offers a unique approach to handling contracts. By utilizing artificial intelligence and machine learning, Evisort simplifies the process of creating, managing, and analyzing contracts.

In 2018, Evisort launched its first product, which was based on a machine learning model that could extract key information from contracts. Over time, the software evolved to include additional features such as contract generation, workflow automation, and reporting.

In 2021, Evisort announced a $35 million Series B funding round led by General Atlantic, bringing the company's total funding to $55 million. This latest investment will be used to accelerate Evisort's growth and further develop its technology.

The Benefits of Evisort 15m Microsoft M12

Evisort 15m Microsoft M12 is the latest version of Evisort's contract management software, and it comes with several benefits for businesses of all sizes.

Improved Efficiency: Evisort 15m Microsoft M12 uses AI and machine learning to automate tasks that were previously done manually, such as contract review and analysis. This saves time and reduces the risk of errors.
Better Risk Management: With Evisort 15m Microsoft M12, businesses can identify potential risks in their contracts before they become an issue. This helps to minimize legal disputes and other costly problems.
Increased Visibility: Evisort 15m Microsoft M12 provides businesses with real-time insights into their contracts, allowing them to make informed decisions about their operations.
Enhanced Collaboration: Evisort 15m Microsoft M12 enables teams to work together on contracts, regardless of their location. This improves communication and helps to streamline the contract management process.

The Future of Contract Management

As more businesses embrace digital transformation, the demand for contract management software like Evisort 15m Microsoft M12 will only continue to grow. With its advanced AI and machine learning capabilities, Evisort is well-positioned to become a leader in this space.

With its latest funding round, Evisort will be able to invest in further research and development, as well as expand its market reach. As a result, we can expect to see even more powerful and innovative features added to Evisort 15m Microsoft M12 in the years to come.

Table Information

Below is a table summarizing the benefits of Evisort 15m Microsoft M12:

Benefit	Description
Improved Efficiency	Uses AI and machine learning to automate tasks
Better Risk Management	Identifies potential risks in contracts
Increased Visibility	Provides real-time insights into contracts
Enhanced Collaboration	Enables teams to work together on contracts

Closing Message for Blog Visitors about Evisort 15m Microsoft M12

Thank you for taking the time to read our article about Evisort 15m Microsoft M12. We hope that we have provided you with valuable insights into this innovative legal technology solution.

Evisort is a cloud-based AI-powered contract management software that helps businesses streamline their legal operations, save time and money, reduce risk, and increase efficiency. With its advanced natural language processing capabilities, Evisort can extract critical information from contracts and other legal documents, making it easier for businesses to manage their contracts and comply with regulatory requirements.

The recent funding round led by Microsoft's venture capital arm, M12, is a testament to the quality of Evisort's technology and its potential to revolutionize the legal industry. This investment will enable Evisort to accelerate its growth and expand its market reach, helping more businesses to benefit from its technology.

If you are looking for a contract management solution that can help you simplify your legal operations and improve your bottom line, Evisort is definitely worth considering. With its user-friendly interface, powerful AI capabilities, and flexible deployment options, Evisort can help you optimize your contract workflow and achieve better results.

Whether you are a small business owner or a Fortune 500 company, Evisort can help you save time, reduce costs, and mitigate legal risks. By automating routine tasks and providing actionable insights into your legal documents, Evisort can free up your legal team's time so they can focus on more strategic initiatives.

One of the key advantages of Evisort is its ability to integrate with other enterprise applications, such as Salesforce, DocuSign, and Box, among others. This means that you can use Evisort alongside your existing software tools and leverage its AI capabilities to enhance your workflows and decision-making.

Moreover, Evisort's advanced security features ensure that your data is always protected and compliant with industry standards. With its SOC 2 Type II certification and GDPR compliance, Evisort can give you peace of mind and ensure that your sensitive information is always secure.

In conclusion, Evisort 15m Microsoft M12 is a game-changing legal technology solution that can help businesses of all sizes to optimize their legal operations, reduce costs, and mitigate risks. With its advanced AI capabilities, flexible deployment options, and powerful integrations, Evisort is the ideal choice for businesses looking to streamline their contract workflow and achieve better results.

If you would like to learn more about Evisort and how it can help your business, please visit their website or contact their sales team. We hope that you enjoyed reading our article and found it informative. Thank you for visiting our blog!