Kira Systems receives US$50M Series A investment from Insight Venture Partners

Date Closed

September 05, 2018

Lead Office

Toronto

Value

50.00 Million USD

On September 5, 2018, Kira Systems, an AI-driven contract analytics software vendor, announced a US$50 million minority investment from Insight Venture Partners. Previously bootstrapped, this financing round is Kira Systems’ first outside fundraise. The funding will be used to finance Kira's further growth and development.

Kira Systems’ software, Kira, leverages proprietary machine learning technology to automatically identify and extract relevant information from contracts and other related documents. Kira helps to reduce the time spent on document review by 20–90% and improve the accuracy of the review. Kira Systems’ customers include a majority of the world’s leading law firms, as well as other professional services firms and large corporations.

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide.

McCarthy Tétrault LLP advised Kira Systems with a team led by George Takach that included Oliver Borgers, Dean Xiao and Rosanna Principe (Corporate) and Alison Minard and Angelo Discepola (Tax).

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