Evisort

Evisort — Funding & Company Data

Financial overview and investor data for Evisort.

High confidence data Last verified 4 months ago

Founded

2016

Stage

Acquired

Total Raised

$155.6M

HQ

San Francisco, CA

Team

201-500

Model

sales-led

Acquired

Evisort was acquired by Workday, Inc. on September 17, 2024 .

Analyst Take

Evisort's funding history demonstrates a classic venture-backed trajectory, executed with precision. The company progressed from seed funding to a substantial $100 million Series C, attracting increasingly prominent investors at each stage. Early backing from firms like Village Global (supported by tech luminaries) and Amity Ventures provided initial validation. The Series A led by Microsoft's M12 and Vertex Ventures signaled a move into serious enterprise consideration, lending both capital and strategic credibility.

The $35 million Series B led by growth equity giant General Atlantic marked a significant scaling point, indicating strong product-market fit and rapid revenue growth. The capstone was the $100 million Series C led by TCV, a firm known for backing category-defining companies like Netflix and LinkedIn. This final round solidified Evisort's position as a leader in the contract lifecycle management (CLM) space and provided the capital to compete aggressively.

The quality of Evisort's investor syndicate is high, comprising a mix of corporate venture capital (M12) and top-tier growth equity firms (General Atlantic, TCV). This blend suggests strong technical validation and a clear path to enterprise scale. The consistent participation of existing investors in subsequent rounds also signals strong insider confidence. This financial backing allowed Evisort to invest heavily in its proprietary AI, expand its team, and capture significant market share before its eventual acquisition by Workday, which serves as the ultimate validation of its technology and market position.

Stability

As a subsidiary of Workday, a major publicly-traded enterprise software company, Evisort's stability is exceptionally high. The acquisition eliminates the typical runway concerns of a venture-backed startup and provides access to vast resources for continued development and integration.

Growth

Prior to its acquisition, Evisort was on a high-growth trajectory, reporting 4x revenue growth in the year leading up to its Series B round. Now integrated into Workday's ecosystem as 'Workday Contract Intelligence', its growth is tied to Workday's broader enterprise sales strategy, suggesting a continued, stable expansion path.

For Buyers

For a potential buyer, Evisort's acquisition by Workday is a double-edged sword. The tool's longevity and stability are now assured, removing the risk of a startup failure. However, it also means the product's future roadmap is now intrinsically linked to Workday's priorities, which could deprioritize features for non-Workday customers.

Funding Timeline

Series C $100M May 2022

Investors: TCV, Breyer Capital, General Atlantic, M12, Amity Ventures, Vertex Ventures

Series B $35M February 2021

Investors: General Atlantic, M12, Vertex Ventures, Amity Ventures

Series A $15M December 2019

Investors: M12, Vertex Ventures, Amity Ventures, Serra Ventures

Seed $4.5M February 2019

Investors: Amity Ventures, Village Global, Serra Ventures

Seed $1.1M February 2018

Investors: Amity Ventures, Village Global

Notable Investors

TCV General Atlantic M12 Breyer Capital Vertex Ventures Amity Ventures Village Global

Sources

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