2,979% Revenue Growth Reflects Market Demand for AI-Powered Contract Lifecycle Management
SAN FRANCISCO, Nov. 8, 2023 /PRNewswire/ — Evisort, the leader in artificial intelligence (AI) for contract lifecycle management (CLM) and analysis, today announced it ranked 53 on the Deloitte Technology Fast 500™, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 29th year.
“In this tight economic climate, we’re increasingly seeing legal and finance teams use Evisort to surface valuable contract data that helps them preserve cash on hand and strategically manage spend,” said Evisort Founder and CEO Jerry Ting. “We’re honored that Evisort has been included in the Deloitte Technology Fast 500 for the second year in a row.”
Evisort recently made headlines for creating the first large language model (LLM) built specifically for legal agreements; this contract-specific LLM will help power the next phase of the company’s generative AI innovations. In October, Evisort was named a Visionary by Gartner in the 2023 Magic Quadrant for Contract Life Cycle Management and recognized as one of Spend Matters’ top “50 Providers to Watch” for the third consecutive year.
“Each year we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark. Congratulations to all the winners who show us how creativity, hard work and perseverance can lead to success.”
2023 marks the second year Evisort has earned a place on the Technology Fast 500 list. In 2022, Evisort ranked 16 as a Technology Fast 500 award winner.
Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame from 2019 to 2022, with an average growth rate of 1,934% and a median growth rate of 497%.
About the 2023 Deloitte Technology Fast 500
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Evisort
Evisort is the leading transformative business solution for contract lifecycle management and analysis. Powered by proprietary artificial intelligence (AI) trained on 11M+ contracts and 1B+ data points, Evisort’s technology parses the nuanced context and meaning of legal language and helps operational teams scale faster, reduce costs, and deliver greater business impact. Evisort is the first AI-native CLM company to achieve ISO 27001 and 27701 certifications in addition to SOC 2 Type 2 certification. Headquartered in San Francisco, the company supports legal, finance, sales, procurement and IT organizations around the globe. For more information, visit www.evisort.com or connect with us on LinkedIn or X (Twitter).
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.
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SOURCE Evisort
