By Aditya Soni
Publication Date: 2026-01-20 12:42:00
Jan 20 (Reuters) – Artificial intelligence startup Ivo has raised $55 million in a funding round led by existing investor Blackbird to accelerate development of its legal services platform and hire more sales staff to meet growing demand.
The company was valued at around $355 million in the Series B round announced Tuesday, according to a source familiar with the matter. They were joined by new investors Costanoa Ventures, Uncork Capital, Fika Ventures, GD1 and Icehouse Ventures.
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Demand for services that automate the routine work that many law firms do for large corporations has increased, driving investor interest in the sector. Legal AI startup Harvey was valued at $8 billion in a $160 million fundraising last year.
Ivo, whose customers include Uber, Shopify, IBM, Reddit and Canva, enables companies to speed up the contract review process. The company said its revenue has increased sixfold since its last funding round in February last year.
The AI startup also helps companies…