Ivo has raised $55 million in Series B financing to scale its contract-intelligence platform, the company said in a LinkedIn post on Tuesday.
The round was led by Blackbird Ventures, with participation from Costanoa Ventures, Uncork Capital, Fika Ventures, GD1 (Global From Day One), and Icehouse Ventures.
Ivo said it has expanded rapidly since its prior funding, growing annual recurring revenue by 500% and increasing adoption among Fortune 500 companies by 250%. The company also claimed customers are saving “up to 75%” of the time previously spent on manual contract review.
The funding comes as in-house legal and contracting teams face rising workloads and tighter resourcing, a dynamic Ivo says its product is built to address. Beyond accelerating review, the company positions its software as a way to surface business-critical data embedded in agreements—information it says often remains “locked away” and inaccessible to broader stakeholders.
Ivo cited a customer base that includes Uber, Shopify, Atlassian, Reddit, Canva, and CDW, alongside “hundreds of other organizations,” and said the new capital will support continued growth as it expands its footprint across enterprise legal and procurement functions.
KEY QUOTE:
“We built Ivo to solve both challenges faced by contracting teams: providing surgical accuracy in contract review and offering visibility into the strategic data inside agreements.”
Company statement
