San Francisco, California: Ivo, an AI-powered contract intelligence platform, has raised $55 million in Series B funding to advance its mission of transforming contracts into a reliable and accessible source of intelligence for businesses.
The funding round was led by existing investor Blackbird, with participation from Costanoa Ventures, Uncork Capital, Fika Ventures, GD1, and Icehouse Ventures.
The latest round follows a year of strong momentum for Ivo, marked by significant improvements in product performance, rising customer adoption, and expanding enterprise traction.
As contracting workloads intensify for in-house teams, organisations continue to face challenges in reviewing an increasing volume of contracts while extracting critical business insights embedded within them. Ivo aims to address these challenges by simplifying contract review and enabling enterprises to unlock intelligence from their agreements at scale.
Ivo Accelerates Growth on the Back of Strong Market Adoption
Since its previous funding round, the company has reported a 500% increase in annual recurring revenue, a 134% rise in total customers, and a 250% expansion in adoption across Fortune 500 companies.
The platform is currently used by global enterprises including Uber, Shopify, Atlassian, Reddit, and Canva.
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“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 business relationship is defined by an agreement, yet extracting insights from contracts remains difficult for most organisations. Ivo is focused on giving in-house teams a trustworthy solution that helps them move faster and gain visibility that was previously out of reach.”
Ivo Funding to Support Product Development and Enterprise Scale
The newly raised capital will be deployed to support continued product development and scale operations as the company deepens engagement across the hundreds of organisations already relying on its platform.
Designed specifically for in-house legal and contracting teams, Ivo delivers both high-accuracy contract review and complete visibility into contract libraries.
Uber cited usability, multilingual capabilities, and confidentiality standards as key factors in selecting the platform.
“Uber selected Ivo because it was intuitive to use, demonstrated a high level of accuracy, could work in multiple languages, and met our confidentiality requirements,” said Kate Gardner, Senior Manager, Contract Operations at Uber.
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Faster, More Accurate Contract Review
The AI-powered solution, Ivo Review, enables users to complete contract reviews in a fraction of the time required by manual processes, with customers reporting time savings of up to 75%.
The platform standardises legal positions and precedents through lawyer-built playbooks, ensuring consistency and accuracy across globally distributed teams.
In addition, Ivo Intelligence provides instant visibility into entire contract portfolios without manual data entry or metatagging. Contracting teams can rapidly answer business-critical questions, identify connections across agreements, and surface standard legal positions in minutes rather than months.
Carla Michel, Director Senior Counsel at CDW, noted, “CDW values its partnership with Ivo, whose commitment to advancing legal technology aligns with our strategic priorities. Ivo’s tools streamline contract analysis and enhance decision-making through AI-driven insights.”
“In-house legal teams demand products that are deeply accurate and aligned to how they work,” said James Palmer, Principal at Blackbird. “Ivo’s traction with some of the world’s most sophisticated companies demonstrates its ability to meet that standard consistently.”
Looking ahead, the company aims to elevate contracts into strategic assets for businesses by making them easier to understand, analyse, and leverage across the enterprise.
