Legal AI startup Ivo raises $55 million in latest funding round
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Legal AI startup Ivo has raised $55 million in a Series B funding round led by Blackbird, valuing the company at approximately $355 million. The funds will be used to enhance its legal services platform and expand its sales team. Ivo's revenue has increased sixfold since its last funding round, with clients including Uber and IBM. The company aims to improve contract review processes and plans to triple its workforce by 2026. However, concerns about AI-generated legal errors persist, highlighting the need for accuracy in legal technology.
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