Kira

Kira, Litera’s AI-powered contract review and analysis platform, helps legal teams deliver higher quality contract reviews with lower risk, improved realization rates, and more vital team collaboration. Kira’s AI and intuitive interfaces efficiently scale to handle large volumes of documents by identifying, extracting, and summarizing key concepts and data points of interest during legal, due diligence, lease review, and more. 

At the heart of Kira's innovation is its built-in "smart fields," capable of identifying over 1,400 contract provisions and data points across over 40 substantive areas. This extensive range is a testament to Kira's sophistication, ensuring that Kira can be used on diverse sets of legal documents. Kira can also extract unlimited custom fields created and trained by users.

Kira transcends the limitations of keyword-based systems by understanding legal concepts organically. The AI has been meticulously trained by lawyers with experience at the world's leading law firms, with a training database comprising over a million documents, 500,000 examples, and over 40,000 lawyer hours.

Kira's technical prowess is evident in its ability to classify OCR quality and recognize over 100 languages automatically. It identifies over 50 different types of agreements, and its recently introduced Rapid Clause Analysis feature can instantly identify identically drafted clauses across an entire set of documents, further accelerating reviews.

With collaboration in mind, Kira can automatically group contracts and their related amendments, making the organization and assignment of documents easier to review.

Once extracted, Kira’s optional Smart Summaries feature, powered by generative AI, can automatically generate easy-to-read summaries of contract clauses and data points. This enables legal teams to start from a first draft when completing their diligence summaries, helping them analyze content in contracts and other documents more quickly.

Intuitive and user-friendly, Kira requires no configuration and is ready to use from day one. Kira optimizes collaboration and project management through an interface that allows users to efficiently assign, review, and track progress.

With the flexibility to generate configurable reports on-demand in various formats like Excel, Word, or PDF, Kira caters to different organizational needs and facilitates seamless sharing and internal use. Together, these capabilities are essential for legal professionals who deal with complex documentation that cannot be reduced to mere keywords or prompts.

By accelerating contract reviews, Kira provides substantial cost and time savings that help legal teams be more competitive. It mitigates human error inherent in manual reviews, helps identify additional risks that might have been overlooked, and allows for more documents to be reviewed in the same amount of time.

Kira's reputation is bolstered by recognition as the best solution for due diligence contract review (as recently confirmed by Legaltech Hub), with high marks for product feature fulfillment, maturity, and market penetration. Boasting over a decade of innovation and processing more than 450,000 documents per month, Kira is a proven leader in the LegalTech market, with 64% of the Am Law 100 and 84% of the top 25 M&A firms globally trusting Kira to support their reviews of contracts for M&A due diligence, real estate, banking and finance, intellectual property, and employment.

The company was founded by Alexander Hudek and Noah Waisberg in 2010 and acquired by Litera in 2021. 

Funding Information:
Litera has raised a total of $102M in funding over 5 rounds. Their latest undisclosed amount of funding was raised in November 2021 from a Private Equity round.