Total amount raised
$22.2 Millions
Latest funding date
02/01/2025
Location
Ivo has successfully raised $47.7 million over multiple funding rounds, including a significant $16 million Series A round led by Costanoa Ventures. The company specializes in AI-powered contract review solutions, automating complex legal processes for enhanced efficiency.
Keep reading to explore the intricacies of Ivo's fundraising journey and the investors backing this innovative platform.
What Is Ivo?
Ivo, founded in March 2021 by Jacob Duligall and Min-Kyu Jung, is a San Francisco-based company specializing in AI-powered contract review solutions. The platform automates the analysis, redlining, and compliance processes for legal teams, significantly reducing the time and effort required for negotiating agreements.
Operating within the legal tech industry, Ivo leverages artificial intelligence to streamline legal operations. The company has a workforce of 11-50 employees and has successfully raised substantial funding, including a $16 million Series A round led by Costanoa Ventures.
How Much Funding Has Ivo Raised?
- Pre-Seed Round
- Amount Raised: $1.4M
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and refine the AI contract review platform.
- Seed Round
- Amount Raised: $4.8M
- Date: April 2024
- Lead Investors: Fika Ventures, Uncork Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the AI contract review platform and rebrand from Latch to Ivo.
- Series A Round
- Amount Raised: $16M
- Date: February 2025
- Lead Investors: Costanoa Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale Ivo's AI-powered contract review solution and expand its customer base.
Total Amount Raised: $22.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Costanoa Ventures
- Details: Founded in 2012, Costanoa Ventures partners with technical and product founders as early as company formation. They focus on apps and infrastructure in data, dev, and fintech.
- Investment Focus Areas: Data, dev, fintech
- Notable Investments: Not publicly disclosed
- Fika Ventures
- Details: Fika Ventures is a US-based venture capital firm that participated in both the seed round and Series A funding for Ivo. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, early-stage investments
- Notable Investments: Not publicly disclosed
- Uncork Capital
- Details: Uncork Capital is a US-based venture capital firm that also participated in both the seed round and Series A funding for Ivo. They invest in seed-stage technology startups.
- Investment Focus Areas: Technology, seed-stage investments
- Notable Investments: Not publicly disclosed
- Blackbird VC
- Details: Blackbird VC is a local venture capital firm that participated in Ivo's Series A funding round. They invest in technology startups, particularly in Australia and New Zealand.
- Investment Focus Areas: Technology, startups in Australia and New Zealand
- Notable Investments: Not publicly disclosed
- GD1
- Details: GD1 is a New Zealand-based fund that participated in Ivo's Series A funding round. They focus on early-stage investments in New Zealand startups.
- Investment Focus Areas: Early-stage investments, New Zealand startups
- Notable Investments: Not publicly disclosed
What's Next for Ivo?
As Ivo looks to the future, the company is poised to capitalize on the growing demand for AI-powered contract review solutions. With the recent launch of the Ivo Search Agent, they aim to streamline contract search and analysis, making it easier for legal teams to manage their portfolios. This expansion presents a significant opportunity to attract more corporate clients, including Fortune 500 companies, and further solidify their market presence.
Given the success of their Series A funding round, Ivo is well-positioned for future fundraising opportunities. Additional investment rounds could help them scale their operations, enhance their AI capabilities, and develop new features to meet the evolving needs of their clients. The legal tech market's shift towards automation and efficiency makes Ivo an attractive prospect for venture capital firms and strategic investors.
However, Ivo will face challenges as they grow. Competition from other AI-powered legal tech solutions is fierce, and maintaining the accuracy and reliability of their AI outputs is crucial for customer trust. Additionally, scaling their technology to handle increasing volumes of contracts without compromising performance will be a critical hurdle. Despite these challenges, Ivo's innovative approach and strong market position suggest a promising future.
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