Spotlight on: Kira Systems
Description
Developer of an AI-driven contract analytics software designed to enable enterprises to easily find and use trusted information and answers from their documents. The company's software reduces the time spent on document review, identifies and extracts provisions, clauses and data points by contextualizing data and providing answers to pressing business questions, thereby helping lawyers to analyze more documents with improved efficiency and accuracy.
Most Recent Financing Status (as of 15-Feb-2022)
The company was acquired by Litera, via its financial sponsor HG Capital (UK), through an LBO on August 10, 2021 for an undisclosed amount. As part of the acquisition, Insight Partners will further its investment in the company by becoming a minority investor in Litera. As part of the overall transaction, the company is spinning off a new company, Zuva, which will continue to advance the state of the art of machine learning for business documents and will be focused on delivering tools that enable the world's businesses to know what's in their contracts.
Founder: Susan Fox
HQ Location: Toronto, ON
Employees: 200
Total Raised to Date: $50.00M
Size Multiple: 17.2x Median (94th percentile)
Institutional Investors:
- Litera
- Insight Partners
- HG Capital (UK)
To learn more about Kira Systems, visit their website or follow them on LinkedIn or Twitter.
Source: Pitchbook, November 2022
Published November 1, 2022.
