Ivo Raises $16m Series A and Launches Ivo Search Agent
Ivo has announced a $16 million Series A funding round to scale its AI-powered contract review.
Ivo has developed a breakthrough approach to contract review that sets new standards for accuracy. The platform automatically reviews agreements against company requirements, suggests specific resolutions for discrepancies, and generates compromise language for conflicting clauses. Ivo’s sophisticated AI produces naturalistic redlines that mirror the work of experienced attorneys, maintaining consistent terminology and making minimal necessary changes.
“When I was a corporate lawyer, contract review was among the most manual and time-consuming tasks,” says Min-Kyu Jung, CEO and Co-Founder of Ivo. Determined to address this challenge, Jung transitioned from his legal career, self-taught coding, and began developing Ivo. After speaking with hundreds of legal professionals and refining multiple versions of the product, his team developed a solution that lawyers could confidently use.
The impact on legal teams has been immediate and significant. “Ivo reduced our average time to approve counterparty NDAs for signatures from four days to two, while first pass turn improved from an average of 11 hours to 5 minutes,” says Adrie Christiansen, Legal Operations Lead at Quora. Similarly, Geotab’s legal team reports average savings of 45 minutes per contract review – a 75% efficiency gain that allows their lawyers to focus on strategic work. This improvement comes without sacrificing accuracy, as Ivo’s transparency enables lawyers to understand and validate every suggestion.
The platform has proven particularly valuable for high-volume contract review, where maintaining consistency across thousands of agreements is critical. Through extensive customisation options and playbook features, legal teams can establish clear guardrails to enable business users to handle initial contract reviews while ensuring proper escalation protocols.
Ivo Search Agent Transforms Workflow
The launch of Ivo Search Agent marks another milestone in the company’s mission to transform how legal teams work. This new capability transforms contract search and analysis by eliminating the need for manual metadata tagging — a significant pain point in traditional contract lifecycle management systems. Legal teams can now search and generate reports across their entire contract portfolio regardless of where documents are stored, whether in cloud storage solutions like Box and SharePoint, or local computers. The system works seamlessly across various data sources, including CLM integrations, requiring minimal implementation while delivering comprehensive insights.
“Ivo is fundamentally transforming contract review for lawyers and legal teams,” says Amy Cheetham, Partner at Costanoa Ventures. “By leveraging AI to manage the meticulous, painstaking work of contract review, Ivo gives legal teams tools designed by lawyers to work faster with greater accuracy. Ivo’s new search tool empowers legal teams to efficiently search and generate reports across their contract portfolio, reducing workloads and improving efficiency.”
“The legal profession is in the early stages of an AI-driven transformation,” adds Min-Kyu Jung. “We’re building Ivo to ensure this change enhances rather than diminishes the crucial role of legal judgment. Our vision is to give every legal team the power to handle enterprise-scale contract volumes while maintaining the highest standards of accuracy and control.”
About Ivo
Ivo was founded on the belief that contracts are the foundation of commerce. The founders saw firsthand how contract review slowed down mission-critical projects and decided to do something about it.
Founded in New Zealand and now based in San Francisco, Ivo delivers the world’s most advanced AI-driven contract review platform, helping legal and business teams accelerate deal cycles and streamline contract workflows.
