Serra Companies Network Perception and Evisort Acquired

The team at Serra is very excited to announce two portfolio company acquisitions. The first is Serra Capital III SBIC company Network Perception. Originating from the University of Illinois tech ecosystem, Network Perception empowers critical infrastructure industries to manage their cyber security in a proactive manner, ensuring compliance with regulatory standards and best practices while protecting not only the security of the company, but the greater public at large. Network Perception was acquired by Dragos, the global market leader and first unicorn in Operational Technology (OT) cybersecurity. Rob Schultz, Managing Partner, commented, "We are excited for CEO Robin Berthier and the entire Network Perception team. Serra Ventures supported them even before the company was formed, as they were incubated within the University of Illinois. Recognizing the business's commercial potential, we led their initial seed funding round, and further invested in the Series A. This combination with Dragos offers the most distinctive solution in the industry at a time when risks to our nation's critical infrastructure have never been greater." See full press release here.

The second announcement appeared in the press on September 17 where it was announced that Serra Capital III and Serra Capital III SBIC company Evisort had entered a definitive agreement to be acquired by Workday, a NASDAQ traded company. Evisort deploys computer vision and AI algorithms to read, analyze and recommend the proper contract management. The company is being acquired by Workday, a leading provider of solutions to help organizations manage their people and money. The transaction is expected to close no later than October 31. Dennis Beard, Managing Partner, said "From day one, we were impressed with CEO Jerry Ting and his team of co-founders. They offer a unique solution to a real pain point in contract management, and they have successfully attracted an impressive list of Fortune 500 customers. This is an outstanding result for our Funds and we couldn't be more proud to have been part of the investment team dating back to the Seed Financing round in 2019." See full press release, here.

For the second year in a row, Serra companies Serionix, Evisort and Paystand make the 2024 Inc 5000 Fastest Growing Companies List

Each year, Inc. Magazine releases a list of the fastest growing companies in America, and the team at Serra was very pleased to have three companies represented on this years list for the second year in a row! Inc. says this about the list this year: “They thrived in spite of the pandemic, inflation, and supply chain woes. Here's what you can learn from their success.”

Colorfil (the product made by Serionix), the company that makes color-shifting air filters, came in at an impressive #346.

Evisort, the AI contracts company, came in at #548.

Paystand, the B2B platform payments company, has been featured on this list for the past 5 years in a row! They came in at #1,359.

Two Serra Companies Evisort and Paystand Make the Deloitte Technology Fast 500 2023 List

November brought the 29th year of Deloitte honoring companies through their list “ Deloitte Technology Fast 500". This list honors the most innovative and fastest-growing companies across North America. The program recognizes the passion and dedication it takes to be an industry disrupter across the technology, media, telecommunications, life sciences, fintech, and energy tech sectors. And by joining this elite group, companies can receive increased visibility, brand recognition, and growth opportunities.

Serra is excited to have two of our portfolio companies - Evisort and Paystand on this list, at number 53 and 210 out of 500. To view the complete list, follow here.

Three Serra Companies Featured on Inc 5000 List

Inc Magazine releases an annual list of the fastest growing companies in America, and the team at Serra was very pleased to have three companies represented on this years list. Inc says this about the list this year: “$358 billion in 2022 revenue. 1,187,266 jobs created. And 5,000 examples of how to scale your business. Nowhere else will you find a list of companies with a greater impact on the U.S. economy.”

Paystand, the B2B platform payments company, has been featured on this list for the past 5 years in a row! They came in at #882.

Evisort, the AI contracts company, came in at an impressive #178.

Colorfil (the product made by Serionix), the company that makes color-shifting air filters, came in at #752.

To view the full list, follow here.

EVISORT RAISES $100M TO REIMAGINE LEGAL DOCS

Evisort, a Serra Capital III and Serra Capital III SBIC company, announced on May 11 that it had raised $100M in funding in a Series C round. Evisort uses AI to compile, analyze and manage contracts–from drafting to signing and fulfillment–without human supervision. The company has secured major customers such as Microsoft and Keller Williams.

To view the complete article, follow here.

Evisort is Selected for 2021 Spend Matters ‘50 Providers to Watch’ List

Spend Matters® just revealed its 2021 "50 Providers to Watch" list which includes Evisort, a leading provider of contract management and artificial intelligence (AI) solutions.

Spend Matters selected Evisort and the other listed companies based on rigorous criteria including growth, innovation, technical capabilities and solution delivery. Evisort was independently chosen by Spend Matters’ analyst team over multiple rounds of debate and discussion.

2021 marks the eighth year of publication for the Spend Matters 50 to Watch as well as its counterpart, the 50 to Know. The Spend Matters annual 50 Providers to Know and 50 Providers to Watch lists are determined by the entire Spend Matters analyst team to represent the best of the commercial providers that serve enterprise-level procurement organizations.

To view the entire article, follow here.

Evisort is an artificial intelligence provider for contracts recognized by procurement analysts and is a Serra Capital III and Serra Capital III SBIC company.

Evisort Announces $35M Series B Round

Evisort, a Serra Capital III and Serra Capital III SBIC portfolio company, announced that it has raised $35M in Series B funding. With Evisort, contracts become actionable instantly. Using AI algorithms, contract analysis and data extraction become more efficient and effective.

In other recent news with Evisort, the company secured a partnership with Microsoft, and also was awarded a spot on “25 Fastest Growing Companies” by Growjo Silicon Valley.