The AI-powered contract review platform Ivo has successfully completed a $55 million Series B funding round, aimed at advancing its product development and scaling its operations. This round was led by existing investor Blackbird, with participation from both long-time supporters and new investors, including Costanoa Ventures, Uncork Capital, Fika Ventures, GD1, and Icehouse Ventures.
Since its last funding round in February 2025, Ivo has demonstrated significant growth and innovation. Originally founded in New Zealand, the company has since moved its headquarters to San Francisco to leverage the robust tech ecosystem. The company reports a remarkable 500% growth in annual recurring revenue and a 134% increase in its customer base. Furthermore, there has been a substantial 250% growth in its adoption rate among Fortune 500 companies.
CEO’s Vision
Min-Kyu Jung, CEO and co-founder of Ivo, emphasized the company’s mission to transform the way businesses interact with contracts. “Our goal has always been to make interacting with contracts fast, accurate, and enjoyable,” Jung stated. “Every key relationship in a business is defined by an agreement, yet most organizations struggle to extract the insights inside them. Our focus is to give in-house teams a trustworthy solution that helps them work faster and provides visibility into their contracts that was previously impossible.”
Strategic Use of Funding
The newly secured capital will be instrumental in supporting Ivo’s product development and scaling efforts. The company plans to enhance its AI capabilities and deepen its reach within existing organizations that rely on its platform. Among the notable clients are industry giants such as Uber, Shopify, Atlassian, Reddit, and Canva.
Client Testimonials
Uber, a prominent client of Ivo, selected the platform for its intuitive interface, multilingual capabilities, and strict confidentiality standards. Kate Gardner, Senior Manager for Contract Operations at Uber, praised Ivo’s responsiveness, stating, “Furthermore, the Ivo team was highly responsive to Uber’s needs.”
Innovative Solutions for In-House Teams
Ivo is specifically designed for in-house teams that require comprehensive contract review functionality and visibility into their entire contract library. Its flagship product, Ivo Review, utilizes AI to expedite contract reviews, reportedly saving customers up to 75% of the time manual reviews would typically require. The platform helps standardize company positions and precedents through playbooks crafted and implemented by legal experts.
Industry Impact
The impact of Ivo’s platform is profound, particularly for organizations seeking to streamline their contract management processes. By using AI to automate and enhance contract review, Ivo is setting new standards in efficiency and accuracy. The platform’s ability to operate in multiple languages and its adaptability to different confidentiality requirements make it an invaluable tool for global enterprises.
A Bright Future
With this latest funding round, Ivo is well-positioned to continue its trajectory of rapid growth and innovation. The company’s commitment to enhancing its AI capabilities and expanding its market reach will likely attract even more high-profile clients and partnerships in the future.
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Note: This article is inspired by content from https://legaltechnology.com/2026/01/20/contract-review-platform-ivo-raises-55m-series-b/. It has been rephrased for originality. Images are credited to the original source.