IVO receives $16 million in Series A to revolutionize AI-driven contract reviews and launches IVO search agents
The legal team is under increasing pressure to speed up contract negotiations while maintaining accuracy and compliance. Traditional contract automation tools often undermine speed accuracy, forcing legal departments to manually intervene and double-check the output generated by AI. Enter ivoIt is an AI-powered contract review platform that has transformed the workflow of more than 150 corporate legal teams, including Canva, Pipedrive, Whighwatchers, Eventbrite and several Fortune 500 Fortune 500 companies. Today, the company announced a $16 million Series A funding round to expand its groundbreaking solution and reveals an IVO search agent that eliminates manual metadata tags for contract search and analysis.
The funding round is led by Costanoa Ventures and comes from Fika Ventures, Uncork Capital, NFDG, Blackbird VC, GD1 and One stage venture capital. This brought the total IVO funding to $22.2 million, after which Daniel Gross’ support and a $4.8 million seed round led by Fika Ventures and Uncork Capital.
IVO’s breakthrough in AI-driven legal review
IVO is not only another contract automation tool. Unlike competitors at the expense of legal accuracy, IVO ensures that contracts are reviewed Reflecting the accuracy of human expertise. The platform automatically checks agreements based on company-specific requirements, suggests resolutions on differences, and generates naturalistic red lines to maintain consistent legal terms.
“When I was a company attorney, contract review was one of the most time-consuming and time-consuming tasks.” Min-Kyu Jung, CEO and Co-founder of IVO. “Determined to solve this problem, I left my legal career, taught myself to code and built IVO from scratch. After talking to hundreds of legal professionals, we developed a solution that the legal team can trust to provide accuracy , smart contract red line.”
The impact is direct. Quora’s Legal Action Adrie Christiansenreported this “IVO reduces the average time we approved our signature counterpart NDA from four days to two days, while the first frequent transition from an average of 11 hours to just 5 minutes.” Similarly, Geotab’s legal team Seeing 75% efficiency improvements, saving 45 minutes per contract review without sacrificing accuracy.
Extend IVO’s functionality through IVO search proxy
As AI continues to reshape the industry, IVO is expanding its platform to address another key legal bottleneck: contract search and analysis. The newly launched IVO search agent eliminates the need for manual metadata tags, a major challenge for traditional contract lifecycle management (CLM) systems. With this tool, the legal team can search and generate reports immediately throughout the contract portfolio, regardless of where it is stored, including cloud platforms such as boxes and SharePoint or on-premises drives.
“IVO fundamentally changes the contract review of lawyers and legal teams,” explain Amy Cheetham, Partner at Costanoa Ventures. “By leveraging AI to manage consistent, hard contract review efforts, IVO allows legal teams to work faster. The launch of IVO’s new search tool will significantly reduce workload and increase efficiency.”
The future of AI in legal operations
The legal industry is at the forefront of AI-driven transformation. Although many AI-powered tools still require human supervision, this is due to inaccuracies associated with hallucinations. IVO’s internal lawyer team ensures that its platform increases rather than replaces legal judgments. By providing legal professionals with an AI-driven “power multiplier”, IVO enables them to expand their capabilities while maintaining the highest standards of accuracy and control.
“The legal community is in the early stages of AI-driven transformation.” Min-kyu Jung. “We are building IVO to ensure that this change enhances, rather than reduces, the key role of legal judgment. Our vision is to give every legal team the power to handle the volume of contracts at the enterprise scale while maintaining precision and control.”
IVO: The Future of AI Contract Review
IVO is executing a task Reduce time, energy and cost of contract negotiations. The company has built the world’s most accurate AI contract review platform, designed to help legal and business teams accelerate fixed time while ensuring compliance and reducing risks. By combining deep legal expertise with cutting-edge AI, IVO is setting new gold standards for contract review.
With this new funding, IVO is ready to expand its platform, expand its team, and continue to innovate to help the legal team be smarter, rather than work harder. With the global legal operations championing AI, IVO leads the allegations of transforming contract management for modern enterprises.
