US EditionEx-Bell Gully solicitor raises US$55m for AI start-up
Ivo plans new offices in New York and London as annual recurring revenue grew 500% since last year, backed by investors including Blackbird and Costanoa Ventures.
- Ivo's Series B, led by Blackbird with support from Costanoa Ventures, Uncork Capital and Fika Ventures, followed a $5m seed and a $16m Series A.
- After leaving BigLaw, Jung and Duligall relocated to San Francisco to automate routine contract work and access the world’s biggest pool of AI talent.
- On performance, the company highlights Ivo's Intelligence solution scores 97% on CUAD , chains over 400 model calls per review, and wins 85% of head-to-head trials by accessing company context and solving the on-boarding problem.
- With those contracts, the company plans to expand offices in New York and London while recruiting 25 roles, reporting 500 ARR growth, 134% customer increase, and 250% Fortune 500 adoption since last year.
- The company requires on‑site work because Ivo mandates an in‑person five days a week requirement at its San Francisco office, while US visa policies have not affected hiring, the firm reports.
15 Articles
15 Articles
Legal AI startup Ivo raises $55 million in latest funding round
Artificial intelligence startup Ivo raised $55 million in a funding round, led by existing investor Blackbird, to speed up development of its legal services platform and hire more salespeople to tap growing demand.
AI legal startup Ivo raises $55 million to easily interact with contracts
AI legal tech startup Ivo has announced Tuesday a $55 million Series B funding round, led by existing investor Blackbird. Other investors include Costanoa Ventures, Uncork Capital, Fika Ventures, GD1 and Icehouse Ventures. Ivo states it aims to transform contracts — which it says are a “critical, yet cumbersome aspect of business operations” — into strategic assets, enhancing efficiency for in-house legal teams. It claims that the AI platform al…
From Bell Gully To Big Law AI – Ivo’s US$55m Raise Targets Uber‑Style In‑House Teams From Bell Gully To Big Law AI – Ivo’s US$55m Raise Targets Uber‑Style In‑House Teams
Tom Borman, LawFuel contributor Ivo’s latest capital raise puts the Kiwi-founded, San Francisco-based contract Big Law AI company firmly in the top tier of legaltech, with a US$55 million Series B at around a US$355 million valuation and a cap table now packed with marquee US and Australasian funds. Ivo, co-founded by former New Zealand Tom Borman, LawFuel contributor Ivo’s latest capital raise puts the Kiwi-founded, San Francisco-based contract…
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