Kira’s machine learning contract analysis software is a finalist for the Legaltech News 2015 Innovation Award for “New Product of the Year”
San Francisco, CA, July 13, 2015 — Kira Inc., the machine learning contract analysis software provider, announced today that its Diligence Engine software has been trusted on over $100 billion in transactions to date. Kira’s customers, who include some of the world’s largest corporations and professional services firms, used the software to review contracts in M&A and other transactional due diligence. This news comes on the heels of Kira’s announcement of a partnership with Intralinks®, whose Intralinks DealSpace® solution is the industry leading virtual data room.
Diligence Engine is a finalist for Legaltech News’ 2015 “New Product of the Year” Innovation Award. “The legal industry is finally in the throes of a long-predicted transformation, and we are proud to be at the forefront of that change,” said Kira CEO Noah Waisberg. “Our customers report that they complete their contract review in 20-90% less time than their traditional processes, and that their reviews are more accurate. Moreover, firms are able to offer entirely new products and services using our software.” Kira’s CMO Steve Obenski will be presenting the software tomorrow at Legaltech West as one of the companies selected to participate in the CodeX Legal Innovation Lightning Round.
Kira’s software uses machine learning, a type of artificial intelligence, to automate the extraction and analysis of key provisions across sets of contracts. In addition to Diligence Engine, Kira recently launched Kira Real Estate, which helps quickly produce lease summaries, and Kira Contract Analysis, which helps summarize and analyze contract provisions for a variety of purposes such as contract management system implementation. Using Kira’s proprietary Quick Study system, users can teach the software to identify virtually any provision, and Kira’s users have already built thousands of provisions using it.
“We are thrilled to reach this milestone, and have been adding talent to support our growth,” said Waisberg. Kira Inc., based in Toronto, now has over 25 staff, including more than seven accomplished lawyers who have practiced at some of the world's most prestigious law firms, such as Skadden, Weil Gotshal, Blakes, and Reed Smith. Kira’s growing technical team includes full-time PhDs with expertise in machine learning and advanced logic systems, and experienced developers who have joined Kira from organizations such as Microsoft and MIT.
Kira Inc., a leading provider of machine learning contract analysis software, helps professionals work faster and more accurately, providing more value to their clients in less time. Kira’s software has been trusted on over $100 billion worth of corporate transactions to date. Kira’s customers include some of the world’s largest corporations and professional services firms, who use the software for due diligence, lease summarization, contract management and other tasks. Kira is headquartered in Toronto and was founded by former Weil, Gotshal & Manges LLP New York corporate lawyer Noah Waisberg, and Alexander Hudek, who holds a Ph.D in Computer Science from the University of Waterloo. To find out more, please visit https://kirasystems.com