Evos lands USD $9 million to automate industrial work

Evos has launched publicly and raised USD $9 million in pre-seed funding in a round co-led by Uncork Capital and Field Ventures.

The New York-based company builds autonomous operators for small and mid-sized businesses in physical industries, including manufacturing and freight. Its software learns from experienced staff and then carries out work inside the systems those businesses already use.

The operators are already being used for tasks such as answering broker calls, building freight loads, chasing missing paperwork, and reconciling invoices. Evos said it passed USD $1 million in annual recurring revenue four weeks after going live.

Other investors in the round included Crosslink Capital, Utopia Capital Management, Sandwith Ventures, and angel investors. Evos plans to use the funding to expand its team and broaden the use of its operators across businesses involved in making, moving, and supplying goods.

The company is targeting sectors dominated by smaller firms, where operational knowledge often sits with long-serving employees rather than documented processes. It cited industry figures showing that 99.3% of US motor carriers run fewer than 100 trucks and 93% of US manufacturers have fewer than 100 employees.

Its model places operators behind an approval process at the start, with human workers approving, rejecting, or changing decisions. As accuracy improves, the software takes on more work independently, while unfamiliar cases are routed back to staff.

According to Evos, its operators reach about 82% decision accuracy and handle roughly 70% of work without human intervention. In one freight brokerage example, an operator auditing less-than-truckload carrier invoices made nearly 3,500 audit decisions at 97% accuracy in its first two months and closed out more than USD $600,000 in invoice value in the last five weeks alone.

Founder and Chief Executive Officer Urav Shah said the company is trying to capture expertise that would otherwise be lost when experienced workers retire or leave.

"The most capable system in many of these businesses is the person who has been there 20 years, and what they know has never been written down," said Urav Shah, Founder and Chief Executive Officer, Evos.

"An Evos operator learns the job from these people, improves on it, and proves it can match them before it takes on any work by itself. Our goal is to put that expertise on every job, every day, so these businesses can run like the best in the world do," said Shah.

Customer use

One customer cited by the company is MyFreightWorld, which has used an Evos operator in its billing workflow. The operator audits every less-than-truckload carrier invoice against the company's transportation management system.

"Evos has helped us revolutionize our billing process with zero upfront investment, and also at an impressively fast speed measured in days and weeks," said Mike Chalfant, President, MyFreightWorld.

"It's increased our accuracy and dramatically increased efficiency, which has ultimately led to a better experience for our customer base. The performance of the operator has given us confidence and excitement to continue to add to the functionality and explore new possibilities. Adding Evos to the stack has been a terrific thing for our company, and we're excited to continue to grow our partnership," said Chalfant.

Investor view

Investors backing the company said they see demand from industrial businesses for software that does more than track work. They are focused on systems that can take on operational functions inside existing tools rather than requiring businesses to rebuild workflows.

"For decades, software sold to industrial businesses has helped people organize and track work, but it has stopped short of doing the work," said Richard Kerby, Partner, Field Ventures.

"Evos changes that. Its autonomous operators learn the judgment behind how a business runs, work within existing systems, and take ownership of entire operational functions. The speed at which Urav and his team have turned that vision into measurable customer value is exceptional, and we believe Evos can become the operating layer for the physical economy," said Kerby.

Uncork Capital also cited speed of deployment as a factor in its investment. According to Evos, its system is self-serve and can move from discovery to deployment in 24 hours, compared with implementation projects that can take months when handled by consultants or integration partners.

"Most software helps industrial businesses keep track of their work, but for the first time, Evos is helping them get it done," said Tripp Jones, General Partner, Uncork Capital.

"What stood out to me immediately is how quickly teams are putting Evos's autonomous operators to work on core parts of their business without a long technology rollout. That puts powerful technology within reach of businesses that software has long overlooked. Urav is one of the most impressive founders I've worked with, and we're thrilled to back him," said Jones.