Ivo, Inc.

An Ivo, Inc. is an American legal tech startup.

• AKA: Latch, Inc., formerly known as Accord Software, Inc..
• Context:
  • It can (typically) offer Ivo Products, such as:
    • Ivo Contract Review Solution, for automating the review, redlining, and analysis of legal agreements.
    • Ivo Issues List Generator, which generates comprehensive issues lists with key risks and clause references.
    • Ivo Checklist Review, which ensures compliance with internal playbooks by verifying documents against predefined checklists.
    • ...
  • It can (typically) develop Ivo Platforms, such as:
    • The Ivo AI Contract Review Platform, which integrates with Microsoft Word, Google Docs, and PDF formats.
    • The Ivo Customization Platform allows for configuring clause libraries and checklists tailored to company-specific legal requirements.
    • ...
  • It can (typically) develop Ivo Features, such as:
    • AI-generated Redlines, which automatically suggest revisions and comments based on company playbooks.
    • SOC 2 Type II certification, ensuring the safety and confidentiality of legal documents.
    • GDPR, CCPA, SSO.
    • Dynamic Checklist Review, which verifies document compliance with specific legal standards.
    • AI-Powered Comment Bubbles, which insert explanations and justifications for redlines directly into the document.
    • Comprehensive Summarization, which generates summaries for key contract details and terms, facilitating faster decision-making.
    • ...
  • It can generate summaries and insights for contracts, facilitating faster decision-making and reducing review times by up to 75%.
  • It can offer a platform that integrates with Microsoft Word, Google Docs, and PDF formats to streamline contract review processes.
  • It can enhance efficiency in legal departments by providing AI-generated redlines, comment bubbles, and Issues Lists that align with company-specific legal playbooks.
  • It can be a preferred choice for legal teams in tech companies, large corporations, and startups looking for agile legal operations.
  • It can leverage generative AI to create dynamic and context-aware revisions, helping companies maintain consistency across their agreements.
  • It can focus on large corporations, tech companies, and agile startups looking for efficient legal operations through its comprehensive contract lifecycle management.
  • It can result time savings by reducing contract review time by up to 75% and enhancing consistency across all legal agreements.
  • It can leverage generative AI to provide context-aware revisions, dynamic playbook adherence, and automated compliance verifications for all contract types.
  • ...
• Example(s):
  • Ivo started as Latch, Inc. in New Zealand in 2012, focusing on addressing inefficiencies in contract review.
  • Latch, Inc. (2021).
  • Latch, 2021-03.
  • Ivo, 2022-03.
  • Ivo, 2023-03.
  • Ivo, 2024, with events such as:
    • Ivo AI Rebranding (2024) – In 2024, Latch rebranded to Ivo, Inc., signifying its expansion into AI-driven legal tech solutions.
    • Ivo's $4.8M Funding (2024) – In April 2024, Ivo raised $4.8M from Uncork Capital and Fika Ventures, boosting its AI contract review capabilities.
    • Ivo Platform Expansion (2023-2024) – Ivo expanded its platform to support Microsoft Word, Google Docs, and PDF integration, offering advanced checklist reviews, clause libraries, and more.
    • Ivo's SOC 2 Certification (2024) – Achieved SOC 2 Type II certification to ensure data security and confidentiality for legal documents.
    • Ivo's Major Clients (2024) – Ivo currently serves companies like Automattic (WordPress and Tumblr), CarParts.com, and SCAN Health.
  • ...
• Counter-Example(s):
  • Traditional Contract Review Solutions, which rely on manual processes, resulting in slower review times and higher costs.
  • Generic Document Automation Platforms, which lack specific features for legal contract compliance and risk management.
• See: Contract Lifecycle Management (CLM), AI in Legal Tech, Automated Document Review.

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References

2024

• https://www.linkedin.com/company/ivoai/about/
  • Ivo helps organizations reduce the time, effort, and cost of negotiating contracts. Our Generative-AI native software reviews and redlines agreements for consistency against playbooks and historically negotiated agreements.
  • Website https://ivo.ai
  • Industry Software Development
  • Company size 22 associated members
  • ...

2024

• Perplexity
  • Ivo AI, formerly known as Latch, has an interesting history of growth and evolution in the legal tech space. Here's an overview of the company's journey:
  • Founding and Early Years: Ivo was founded in 2012 in New Zealand[1][2]. The company was initially established under the name Latch, with a vision to address the inefficiencies in contract review processes that were slowing down mission-critical projects[1].
  • Transition and Relocation: As the company grew, it relocated its headquarters to San Francisco, California, while maintaining its roots in New Zealand[1]. This move likely positioned the company to better access the tech ecosystem and venture capital in Silicon Valley.
  • Rebranding and Recent Developments: In 2024, the company underwent a significant rebranding, changing its name from Latch to Ivo[3]. The new name was inspired by Ivo of Kermartin, the patron saint of lawyers, signifying a deeper commitment to serving the legal industry[3].
  • Funding History: Ivo has successfully raised capital to fuel its growth:
    • In April 2024, the company announced a $4.8 million funding round led by Uncork Capital and Fika Ventures[3][4].
    • This latest round brought the company's total funding to $6.2 million[2][4].
  • Product Evolution: Throughout its history, Ivo has focused on developing AI-powered solutions for contract review. The company has continually innovated its product offerings, introducing features such as:
    • AI-generated playbooks
    • One-click issues list generation
    • Dynamic checklist review and redline capabilities
    • AI-powered comment bubbles[4]
  • Current Status: As of 2024, Ivo is positioned as a leading AI-powered contract review platform. The company serves notable clients including Automattic (WordPress and Tumblr), Carparts.com, Pipe, SCAN Health, and Commure[3][4]. Ivo continues to focus on improving efficiency and accuracy in legal contract review processes, leveraging generative AI technologies to streamline workflows for legal teams[5].
  • Citations:

[1] https://www.ivo.ai/about-us
[2] https://www.cbinsights.com/company/latch
[3] https://finance.yahoo.com/news/ivo-generative-ai-legal-contracting-100000583.html
[4] https://www.businesswire.com/news/home/20240404371942/en/Ivo-a-Generative-AI-Legal-Contracting-Solution-Raises-4.8M-to-Accelerate-Expansion-of-Existing-Platform
[5] https://www.thesaasnews.com/news/ivo-secures-4-8-million-in-funding
[6] https://www.futurepedia.io/tool/ivo
[7] https://www.legaltech-talk.com/legal-tech-startup-ivo-rides-ai-investment-wave-to-raise-us4-8m/
[8] https://deepgram.com/ai-apps/ivo

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