Ivo Raises $55M to Bring AI Contract Intelligence to Every In-House Legal Team

It wasn't long ago that I was a corporate lawyer in New Zealand with big dreams of changing the way people worked with contracts. I spent my days reviewing agreements line by line and digging through iManage folders for precedents I knew existed somewhere. I left and taught myself to code because I believed there had to be a better way.

Starting Ivo was an early bet that AI would transform how in-house legal teams work; not by replacing lawyers, but by giving them superpowers. At the time, "AI for legal" meant keyword search and basic templates. We had to convince skeptical GCs that AI could actually understand contract language. 

We’re happy to share that we've raised $55M in Series B funding led by Blackbird. We're deeply grateful to our earliest believers and customers, as well as to the incredible team of builders who've joined us to turn Ivo into what it is today.

Where we are

The legal teams succeeding with Ivo include the largest, most sophisticated, and most demanding in the world. Our customers span Fortune 500 enterprises to the fastest-growing technology companies. These are organizations that review thousands of contracts per year and need AI that actually works.

We've grown our ARR 6x over the last year because we've stayed relentlessly focused on helping in-house legal teams move faster without sacrificing quality. When we go head-to-head with competitors in trials, we win 85% of the time. Lawyers are skeptical and discerning; no amount of marketing dollars will trick them into working with you. The only way to earn their trust is by delivering a product that works.

Ivo's contract review tool lives inside Microsoft Word, right where lawyers already work, surfacing risks, suggesting redlines, and accelerating negotiations. Our contract repository transforms executed agreements from static files into searchable intelligence, helping teams answer questions about their documents, understand the web of relationships across their agreements, and visualize deviations from their standard positions.

Where we're investing

We will use our new funding to deepen our platform, increase our enterprise capabilities, and expand internationally.

Ivo is designed for the unique needs of in-house legal teams, not law firms. We're doubling down on investments to build at the frontier of what's possible across the entire contract lifecycle:

• Making it even easier to onboard and extract value from day one, whether you're a five-person legal team or a 1,000-person department
• Better connecting Intelligence with Review, proactively surfacing recommendations based on awareness of precedent agreements
• Making sure our AI agents have access to as much relevant organization-specific context as possible to inform their decisions

We're also investing in professional services to ensure our largest customers are incredibly successful and we’re opening offices in London and New York.

Why we're here

What excites us most about AI is its potential to amplify human judgment. Legal work is nuanced and contextual. It’s fundamentally about helping businesses move forward, manage risk, and build trust through agreements. The best outcomes happen when experienced lawyers have tools that match the speed and complexity of modern business.

The opportunity in front of us is massive, but so is the responsibility. Legal teams are trusting us with some of their most important work, and we have to get it right.

If you're interested in joining us on this journey, we'd love to hear from you.