Evisort, a San Carlos, California-based artificial intelligence (AI) contract management company servicing customers like Stack Overflow and Travelzoo, raised $4.5m in seed funding.
The round was led by Village Global and Amity Ventures with participation from Serra Ventures, as well as industry executives from Accenture, Ropes & Gray, SAP, and Walt Disney.
The company intends to use the funds to further develop and accelerate its AI capabilities, including launching a new automated review solution for contract negotiations (planned for release in the second quarter of 2019).
Founded in 2016 by Jerry Ting, CEO and Co-founder, Evisort is an artificial intelligence (AI) contract management company for professionals across all contract-handling roles to categorize, search, and act on renewals and expiration dates for contracts of any type.
Its AI understands meaning and context in legal language, eliminating the need for manual data entry and parsing of contracts or business documents.