New updates have been reported about Ivo.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Ivo, an AI-driven contract intelligence platform built for in-house legal and business teams, has secured a $55 million Series B round led by existing investor Blackbird, with participation from Costanoa Ventures, Uncork Capital, Fika Ventures, GD1 and Icehouse Ventures. The funding follows a period of rapid expansion in which Ivo reports a 500% increase in annual recurring revenue, 134% growth in total customers, and a 250% rise in adoption within the Fortune 500. The company, founded in New Zealand and now headquartered in San Francisco by Min-Kyu Jung and Jacob Duligall, plans to deploy the new capital into product development and scaling its go-to-market reach across the hundreds of enterprises already using its platform, including Uber, Shopify, Atlassian, Reddit and Canva.
Ivo positions its platform as infrastructure for contract-heavy enterprises that need both high-accuracy contract review and real-time visibility across their full agreement portfolio. Its Ivo Review product uses AI and lawyer-built playbooks to standardize positions and precedents, with customers reporting time savings of roughly 75% versus manual review—an efficiency gain particularly relevant for large, globally distributed legal teams facing rising contract volumes. Complementing this, Ivo Intelligence gives companies the ability to query and analyze every agreement within seconds, without manual tagging, to answer business-critical questions and surface links between related contracts and standard legal positions. Customer testimonials from Uber and CDW emphasize accuracy, multilingual support, confidentiality, and integration of AI into legal workflows as key differentiators. CEO Min-Kyu Jung frames the company’s strategy around turning contracts into actionable business intelligence and elevating them from operational burden to strategic asset, while lead investor Blackbird describes Ivo as setting the quality bar for sophisticated in-house teams. Strategically, the raise strengthens Ivo’s balance sheet to invest in AI product depth, expand enterprise penetration, and position itself as a category leader in contract intelligence amid growing demand for automation and risk visibility in corporate legal operations.