Evident

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Evident

Evident Competitive Intelligence & Landscape

evidentid.com ·

Overview

Evident Overview

Evident (evidentid.com) is a leading provider of AI-powered supplier risk management solutions, dedicated to helping organizations proactively manage third-party risk. Founded by CEO David Thomas, the company offers an innovative SaaS platform that automates insurance verification, compliance tasks, and continuous monitoring of risk intelligence signals, transforming traditional due diligence processes [evidentid.com/leadership/david-thomas/]. Evident's mission is to empower businesses with faster, more accurate decisions by leveraging AI and data-driven insights, ensuring confidence in every connection across complex supplier networks [evidentid.com/the-evident-network/].

The core of Evident's offering is its Third-Party Risk Management (TPRM) platform, which streamlines the collection, verification, and monitoring of crucial data and documents for tens of thousands of data points [evidentid.com/contact-us/]. The platform enables users to gain instant snapshots of supplier risk, assess exceptions with context, and prioritize their focus based on compliance track records, known problem flags, and potential exposure [evidentid.com/]. It also offers COI automation to simplify insurance verification for vendors and ensure airtight risk transfer, with the ability to tailor automations and AI-powered risk evaluations to fit unique risk and compliance programs [evidentid.com/home/].

Evident serves a diverse target market, including enterprise, public sector, construction & equipment, and logistics & supply chain industries, which often grapple with complex supplier networks and high stakes in risk management [evidentid.com/]. The company's solutions are trusted by risk managers handling over 4 million customers and thousands of companies, including Fortune 500 brands, by offering scalable and global capabilities that can accommodate hundreds of thousands of third parties [evidentid.com/about-us/][evidentid.com/contact-us/][evidentid.com/partners/]. Evident's network is the world’s largest verification network, onboarding over 150,000 third-party members annually [evidentid.com/the-evident-network/].

Evident is an energetic and growing company with a strong culture centered around core values like

Competitors

Evident Competitors

Evident (evidentid.com) operates in the competitive landscape of supplier risk management, focusing on automating insurance verification and compliance tasks. One key competitor is Jones, which specializes in AI-powered insurance compliance solutions for the real estate and construction sectors. Jones offers software to automate the tracking and management of Certificates of Insurance (COIs) and other insurance documentation in real-time. While both companies leverage AI for compliance, Evident emphasizes a broader supplier risk management platform that includes risk insights, benchmarks, and guidance, and boasts a large network of pre-verified businesses to anticipate compliance against requirements before documentation is even collected. [https://www.cbinsights.com/company/evident-id/alternatives-competitors]

TrustLayer is another direct competitor to Evident, also operating in the insurance verification and compliance space. Similar to Evident, TrustLayer aims to streamline the process of collecting and verifying insurance certificates. However, Evident distinguishes itself with its "Evident Network," which claims to be the world's largest network of verified businesses, offering significant advantages in pre-populating vendor compliance information and providing richer benchmarks based on verified insurance, registrations, and credentials across a vast global network. [https://evidentid.com/]

Kobalt Labs is identified as a competitor, but specific details on its differentiators, market positioning, and direct comparison to Evident in terms of features and pricing are not readily available in the provided sources. Given Evident's strong focus on AI-powered supplier risk management and a vast network for pre-verification, Kobalt Labs likely competes within this broader risk management or compliance automation sector. [https://www.cbinsights.com/company/evident-id/alternatives-competitors]

Indirectly, companies like Sedgwick are listed as competitors.

Sedgwick is a much larger company known for its diversified claims management, benefits management, and integrated business process solutions. While Sedgwick has a broad scope, Evident differentiates itself by offering a specialized platform for supplier risk management, focusing specifically on proactive insurance verification and compliance automation, which is a more niche offering compared to Sedgwick's extensive services. [https://tracxn.com/d/companies/evident/__mXmyClO3E3x5BJ9guZ2gqD9wnb5YpLhHMtFb5zW-3NE]

Alternatives

Evident Alternatives

Product & Pricing

Evident Product and Pricing Intelligence

Evident (evidentid.com) offers an AI-powered Supplier Risk Management Platform designed to automate insurance verification and compliance tasks, moving companies from reactive to proactive risk management. The platform provides risk insights, benchmarks, and guidance for managing complex supplier networks, addressing challenges like increased complexity with more suppliers, potential exposure from compliance gaps, and the dynamic nature of coverage changes. It aims to streamline the process of assessing vendor risk by providing instant snapshots and acting on signals from uploaded contracts or named suppliers, enhancing confidence in vendor selection through compliance track records, problem flags, and fraud signals.

Evident provides a Vendor Risk Management & Compliance Platform that emphasizes fast and flexible compliance automation. It automates tedious verification tasks and helps identify and fix compliance gaps. The platform supports collecting various documents, including Certificates of Insurance (COIs), contracts, and other credentials. Its COI Tracking and Insurance Verification Solution are fully automated and digital, reducing enterprise risk and effort. The system uses AI-driven automated evaluations to quickly and accurately assess COIs, identify non-compliance, and support customized risk and compliance programs for third-party lifecycle management.

For pricing, Evident offers different plans to cater to varying needs. The "Essential" plan includes verification for basic insurance types, basic risk profile recommendations, unlimited users and documents, a branded vendor portal, and basic admin, reporting, onboarding, and support. The next tier, "Advantage," encompasses everything in the "Essential" plan and adds verification for additional insurance types, endorsements, and collateral, along with advanced risk profile templates and recommendations, and advanced admin and user permissions. This tier also allows for the collection of contracts and standard forms like W-9s and business licenses, streamlining due diligence for vendors and subcontractors. For detailed pricing, Evident encourages booking a demo.

Hiring & Layoffs

Evident Hiring and Layoffs

Evident (evidentid.com) is actively expanding, signaling a strong growth trajectory within the third-party risk management sector. The company emphasizes joining a "growing and energetic company" and highlights innovation in its career opportunities [evidentid.com/careers/]. This focus on growth aligns with their goal to provide an award-winning risk management solution and lead in evaluating high-risk third parties [evidentid.com/about-us/].

The company's hiring patterns reflect its strategic initiatives, particularly in enhancing its Supplier Risk Management Platform and the Evident Network.

Evident touts itself as having the "World's Largest Network of Verified Businesses," with operations spanning 65 languages across 140 countries and over 4 million verified members [evidentid.com/the-evident-network/]. This extensive global reach and network size suggest a need for skilled professionals to support its platform, AI-powered risk evaluations, and continuous monitoring services.

While specific details on recent hiring numbers or any layoffs are not explicitly mentioned on their career page or main website, the language consistently points to expansion. The emphasis on "automating insurance verification and compliance tasks" and providing "AI-powered risk management" [evidentid.com/] indicates a demand for talent in areas like artificial intelligence, software development, data science, and customer support for their specialized solutions. The company's commitment to "first-class support" [evidentid.com/support/] also implies ongoing hiring to bolster its service teams.

Evident maintains a strong company culture centered around six core values, including "Relish the Challenge" and "Seek Excellence" [evidentid.com/careers/]. This cultural emphasis likely plays a role in attracting and retaining talent. The overarching hiring strategy appears geared towards strengthening its position as a leader in automating third-party due diligence and continuous risk monitoring, ultimately supporting its mission to ensure confidence in every connection [evidentid.com/about-us/].

Leadership

Evident Management and Leadership Team

Evident (evidentid.com) is led by a dedicated team of executives, with David Thomas serving as the Founder and Chief Executive Officer. Under his leadership, Evident is focused on transforming risk data sharing and empowering proactive risk management strategies through its innovative SaaS platform for third-party due diligence [https://www.evidentid.com/leadership/david-thomas/].

Supporting David's vision, Dana Thomas is the Chief Operations Officer, bringing extensive experience in scaling global enterprise and government organizations within the technology sector. Her background includes operational and marketing leadership roles at companies such as Motorola, Leadercast, and KontrolFreek [https://www.evidentid.com/leadership/dana-thomas/].

The technological direction of Evident is guided by Nathan Rowe, the Chief Technology Officer. Nathan brings over a decade of product development leadership experience, honed at companies like Motorola, where he focused on customer-centric innovation and guiding global cross-functional teams [https://www.evidentid.com/leadership/nathan-rowe/].

Evident has garnered significant investment to support its growth and platform development. The company raised $20 million in a Series B financing led by Aspect Ventures, with participation from existing investors New Enterprise Associates (NEA) and Internet Security Systems founder Tom Noonan, as well as new investor Blue Cloud Ventures [https://www.evidentid.com/20-million-for-ai-powered-verification/]. This funding has been instrumental in broadening its robust technical infrastructure and enhancing its AI-powered verification solutions. Additionally, Evident has secured $10 million and $14 million in separate funding rounds to further reduce third-party insurance-related risk for enterprises [https://www.evidentid.com/evident-raises-10-million-to-reduce-third-party-insurance-related-risk-for-enterprises/, https://www.evidentid.com/news-press/].

Financials

Evident Financial Performance, Fundraising, M&A

Evident (evidentid.com) has demonstrated significant activity in fundraising, securing a total of $44 million across multiple rounds. In August 2022, the company announced a $10 million Series C financing round, led by Forte Ventures with participation from Gaingels, aimed at accelerating growth in third-party insurance-related risk reduction Evident Raises $10 Million to Reduce Third Party Insurance-Related Risk for Enterprises. This was quickly followed by an additional $14 million in Series C funding in September 2022, also led by Forte Ventures, to further drive growth Evident Raises $14 Million to Reduce Third Party Insurance-Related Risk for Enterprises.

Prior to its Series C rounds, Evident successfully raised $20 million in a Series B financing round. This round was led by Aspect Ventures, with existing investors New Enterprise Associates (NEA) and Internet Security Systems participating, to support its AI-powered identity verification platform Evident ID Raises $20 Million for AI-Powered Identity Verification. These investments underscore the company's commitment to enhancing its automated third-party insurance verification and credentialing services.

While specific overall revenue figures are not publicly disclosed, Evident operates with a clear pricing model for its services. For instance, its "ESSENTIAL" COI tracking plan is priced at $15 per vendor annually, with another option at $25 per vendor annually COI Tracking Pricing & Plans | Insurance Verification Cost. This transactional pricing suggests a revenue model tied to the number of vendors managed through its platform. The company's Evident Network is described as the "World's Largest Network of Verified Businesses," having verified insurance, registrations, and credentials in 65 languages across 140 countries, indicating a broad operational scale Supplier Risk Management Platform | Evident.

Evident is a VC-backed technology startup headquartered in Atlanta, GA In today’s new remote-first, ever-changing regulatory environment, Evident provides a highly scalable and configurable solution to manage communications, storage, decisioning, and ongoing monitoring of individual and business credentials. Evident is a VC-backed technology startup, headquartered in Atlanta, GA. Learn more at evidentid.com.. The company has garnered recognition, being named a leading vendor in Liminal's 2025 Operational Link Index™ Supplier Risk Management Platform | Evident, and has announced various partnerships to enhance its risk management solutions, including with NIP Group and PRISM News & Press | Evident ID. These partnerships and accolades contribute to Evident's financial health by expanding its market reach and validating its service offerings.

Partnerships

Evident Partnerships, Clients and Vendors

Evident (evidentid.com) specializes in AI-powered supplier risk management, offering an automated platform for insurance verification and compliance. The company serves a diverse clientele across various sectors, including enterprise, public sector, construction and equipment, and logistics and supply chain. Notable clients include AgSouth Farm Credit, a convenience store brand with over 5,000 franchises, a leading national waste hauling and recycling service provider, and Rubicon [https://www.evidentid.com/insurance-verification-solution/].

Evident actively engages in strategic partnerships to expand its reach and enhance its offerings. Key partnerships include Public Risk Innovation, Solutions, and Management (PRISM), one of the largest public entity risk pools in the US [https://www.evidentid.com/evident-partners-with-prism-to-enhance-risk-management-for-public-entities/]. They also partner with NIP Group, a specialty insurance provider, to transform risk management for service professionals [https://www.evidentid.com/nip-group-and-evident-partner-to-transform-third-party-risk-management-for-service-professionals/]. Furthermore, HUB International Mid-America has selected Evident to provide automated insurance verification and fulfillment solutions for enterprises [https://www.evidentid.com/evident-is-selected-by-hub-international-mid-america-to-provide-a-fully-automated-insurance-verification-and-fulfillment-solution-for-enterprises/].

The Evident platform is built for integration and scalability, supporting flexible technical teams. It offers multiple integration options, including APIs, SDKs, webhooks, file exchange, and native and custom integrations [https://www.evidentid.com/third-party-risk-platform/]. This interoperability allows businesses to seamlessly embed compliance workflows and leverage the intelligence of The Evident Network, the world’s largest network of verified businesses, for smarter requirement benchmarks and analysis [https://www.evidentid.com/third-party-risk-platform/].

Evident's extensible platform is designed to accommodate large customers with hundreds of thousands of third parties, demonstrating its global and scalable capabilities [https://www.evidentid.com/partners/]. These partnerships and technological integrations underscore Evident's commitment to providing comprehensive and automated solutions for third-party risk management, helping organizations proactively manage supplier risk and ensure compliance.

Events

Evident Event Participations

Evident (evidentid.com) actively engages with its community and industry through a variety of educational events, primarily focusing on webinars and workshops. These events cover essential topics in supplier risk management, insurance verification, and compliance. The company hosts monthly "Compliance Coffee Talk" series, which are 30-minute sessions where risk experts discuss common questions and provide practical advice on navigating the complexities of risk management [evidentid.com/resources/compliance-coffee-talk/]. Recent topics have included "Getting More from Your Risk Pool," "What makes a strong risk program, according to a TPA?" and "Building Risk Culture" [evidentid.com/resource_types/webinars/].

Beyond the monthly coffee talks, Evident also offers more in-depth workshops such as "Risk Management Essentials Workshop: Avoiding Mistakes that Cause Denied Claims & Legal Costs" and "Risk Transfer 101 Workshop: Foundations For Risk Transfer" [evidentid.com/resource_types/webinars/, evidentid.com/resources/risk-management-essentials-workshop-avoiding-denied-claims-and-legal-costs/, evidentid.com/resources/risk-transfer-101-workshop-foundations-for-risk-transfer/]. These workshops are designed to provide participants with a clear understanding of managing risk through contracts, insurance, and agreements. Additionally, Evident hosts "Risk Leader Roundtable" events, such as "Navigating the Complexity of Third-party Risk," where industry experts and the Evident team share insights and actionable strategies [evidentid.com/resources/risk-leader-roundtable-navigating-the-complexity-of-third-party-risk/].

The company's "Learning Center" serves as a hub for various resources, including webinars and workshops, that help users explore topics like Certificate of Insurance, Due Diligence, Onboarding, and Third Party Management [evidentid.com/learning-center/, evidentid.com/resources/]. These events and resources are integral to Evident's mission of educating risk managers and helping them proactively lead their risk programs, moving from reactive responses to anticipatory strategies [evidentid.com/]. Through these consistent educational offerings, Evident fosters a community where best practices are shared and discussed among experienced risk leaders [evidentid.com/].

Frequently Asked Questions

What is Evident's core strategic focus based on its event programming?

Evident's event programming indicates a strong strategic focus on educating risk managers in proactive third-party and supplier risk management. Its webinars and workshops, like "Compliance Coffee Talk" and "Risk Transfer 101," consistently address topics such as supplier risk management, insurance verification, and compliance, aiming to equip professionals with anticipatory strategies rather than reactive responses.

What does Evident's current hiring activity indicate about its strategic direction?

Evident's active hiring for a "growing and energetic company" signals a strategic push towards expansion, particularly in enhancing its AI-powered Supplier Risk Management Platform and the Evident Network. The emphasis on roles in AI, software development, and data science indicates a commitment to automating insurance verification and compliance tasks and leading in third-party risk evaluation.

What unique advantage does the 'Evident Network' provide to its clients?

The 'Evident Network' provides a significant advantage by leveraging the 'World's Largest Network of Verified Businesses,' with over 4 million members across 140 countries. This extensive network enables clients to gain immediate insights into supplier compliance, benchmark against verified data, and anticipate compliance needs before documentation is collected, streamlining due diligence.

What do Evident's recent funding rounds suggest about its growth strategy?

Evident's recent Series C funding rounds, totaling $24 million in late 2022, suggest an aggressive growth strategy focused on accelerating the reduction of third-party insurance-related risk for enterprises. This follows a $20 million Series B round, indicating continuous investment in enhancing its AI-powered identity and insurance verification platform to broaden market reach and capabilities.

How does Evident's pricing model for its COI tracking plan influence its revenue generation?

Evident's pricing model for its COI tracking plan, starting at $15 per vendor annually, indicates a scalable, transactional revenue stream directly tied to the number of vendors managed on its platform. This per-vendor charge suggests that revenue growth is directly correlated with client acquisition and the expansion of managed third-party networks.

What is the strategic significance of David Thomas leading Evident as both Founder and CEO?

David Thomas's role as both Founder and CEO positions him to maintain a consistent vision for Evident, driving its core mission of transforming risk data sharing and empowering proactive risk management through its SaaS platform. This unified leadership likely ensures that the company's innovation in third-party due diligence aligns directly with its foundational principles and strategic goals.

How does Evident differentiate itself from competitors like Jones and TrustLayer in the insurance verification market?

Evident differentiates itself from Jones and TrustLayer primarily through its 'Evident Network,' which it claims is the world's largest network of verified businesses. This network allows for pre-populating vendor compliance information and offers richer benchmarks, providing a broader supplier risk management platform beyond just COI tracking and emphasizing proactive risk anticipation.

What role do Evident's partnerships play in its market expansion and service enhancement?

Evident's strategic partnerships, such as with PRISM, NIP Group, and HUB International Mid-America, are crucial for market expansion and service enhancement. These collaborations allow Evident to extend its AI-powered supplier risk management solutions into new sectors like public entities and specialty insurance, providing automated insurance verification to a broader client base.

What is the strategic advantage of Evident's platform being built for integration and scalability?

Evident's platform, built for integration and scalability with options like APIs, SDKs, and webhooks, offers a strategic advantage by allowing seamless embedding of compliance workflows into existing business systems. This interoperability supports large customers with hundreds of thousands of third parties globally, facilitating smarter requirement benchmarks and analysis from the Evident Network.

How does Evident's 'Advantage' pricing tier signal its move toward more comprehensive risk management solutions?

Evident's 'Advantage' pricing tier signals a strategic move towards offering more comprehensive risk management solutions beyond basic COI tracking. This tier includes verification for additional insurance types and endorsements, advanced risk profile templates, and the collection of contracts and standard forms, positioning the platform as a holistic due diligence tool for vendors and subcontractors.

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