AI-powered contract review platform Ivo today (20 January) announced a $55m Series B funding round led by existing investor Blackbird, with participation from existing and new investors Costanoa Ventures, Uncork Capital, Fika Ventures, GD1 and Icehouse Ventures.
Since its last funding round in February 2025, the company, which was founded in New Zealand but has relocated its headquarters to San Francisco, says it has grown annual recurring revenue by 500%. It added that it has increased total customers by 134 percent, and expanded adoption within the Fortune 500 by 250 percent.
“Our goal has always been to make interacting with contracts fast, accurate, and enjoyable,” said Min-Kyu Jung, CEO and co-founder of Ivo. “Every key relationship in a business is defined by an agreement, yet most organisations struggle to extract the insights inside them. Our focus is to give in-house teams a trustworthy solution that helps them work faster and gives them visibility into their contracts that was previously impossible.”
The new capital will support product development and scaling as the company deepens its reach across the organisations that already rely on Ivo, including Uber, Shopify, Atlassian, Reddit, and Canva.
“Uber selected Ivo because it was intuitive to use, demonstrated a high level of accuracy, could work in multiple languages, and met its confidentiality requirements,” Kate Gardner, senior manager for contract operations at Uber, said. “Furthermore, the Ivo team was highly responsive to Uber’s needs.”
Ivo is purpose-built for in-house teams that need both contract review functionality as well as visibility into their complete contract library. The company’s AI-powered contract review solution, Ivo Review, allows users to complete reviews quickly, with, we’re told, customers reporting saving up to 75 percent of the time that manual review would take. The product standardises a company’s positions and precedents using playbooks built and implemented by lawyers.
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