Evisort Raises $100m in funding led by TCV

No-code contract lifecycle management vendor Evisort has raised $100m in capital, including equity and venture debt financing. This latest round of funding is led by global growth investor TCV, a key investor in Airbnb, LinkedIn, Netflix, and other major-name success stories. TCV general partner Amol Helekar will join the Evisort board of directors. This financing round includes participation by Breyer Capital and all major existing investors, including General Atlantic, Microsoft’s venture capital fund M12, Amity Ventures, and Vertex Ventures.

“Every time an organization buys, sells, hires, or otherwise transacts, it creates a contractual data layer. We created Evisort because it is absolutely critical for organizations to easily access and manage this data inside their contracts. We couldn’t be more grateful for the trust of our hundreds of customers to build this innovative technology with us,” said Evisort co-founder and CEO Jerry Ting. “Now, we will accelerate this momentum as these additional funds will supplement our existing capital to further our vision for making contract operations stronger and more meaningful than ever.”

The company says it will use the funds to enhance the customer experience, continue to invest in its product, and accelerate global growth. The announcement follows recent key executive hires, including Michaela Dempsey of Workday as chief marketing officer, Steve Tucker of Docusign as chief sales officer, and Dwight Krossa of Knowable as vice president of product.

“At TCV, we are excited about our investment in Evisort. We believe Evisort’s proven AI platform solves increasingly important pain points for many businesses – to extract value from contract data, streamline the contracting process, and improve the efficiency of legal operations,” said Helekar. “Contracts are core to many critical functional areas such as legal, sales, and procurement. The fact that Fortune 500 customers and mid-sized businesses alike can implement and realize value with Evisort across business functions in less than a month underscores the platform’s usability across industries and use cases.”

Evisorts customers include Bank of New York Mellon, Jelly Belly, Keller Williams, Microsoft, Motley Fool, NetApp, Otsuka Pharmaceutical and Vonage.