Kira Systems
Kira Systems, see article Litera, is a Toronto-based company that provides AI-powered contract analysis software designed to help legal professionals and businesses understand and manage their documents more efficiently. Founded in 2011 by former lawyer Noah Waisberg, the company emerged from firsthand experience with the inefficiencies of traditional contract review methods in legal practice.
The platform uses machine learning to automatically identify and extract important information from contracts and legal documents, serving primarily law firms, corporate legal departments, and organizations conducting due diligence reviews. Kira Systems has established itself as a specialized solution in the intelligent document processing space, focusing specifically on legal and contractual document analysis rather than general document processing.
Products & Solutions
Kira's core platform centers on AI-powered contract analysis with over 1,000 built-in provision models for identifying specific clauses and terms across various contract types. The Kira Quick Study feature allows users to train custom models for identifying specific contract provisions not covered by pre-built systems, providing flexibility for unique business requirements.
The platform includes collaborative project management capabilities that centralize contract review processes, allowing teams to work together on document reviews, assign tasks, and track progress. Users can upload documents through drag-and-drop functionality and export findings in various formats including Word and Excel for integration with existing workflows.
Technology
Kira Systems employs machine learning algorithms specifically trained for legal document analysis, with models designed to understand contractual language and legal terminology. The platform processes both structured and unstructured legal documents, using pattern recognition to identify clauses, obligations, dates, and other critical contract elements.
The system integrates with existing legal workflows and document management systems, allowing teams to incorporate AI-powered analysis into their established processes. The technology focuses on accuracy in legal contexts, with the ability to handle complex contractual language and varying document formats commonly found in legal practice.
Use Cases
The platform primarily serves legal teams in AmLaw 100 firms, Big Four consulting companies, and corporate legal departments. Common applications include due diligence reviews for mergers and acquisitions, contract portfolio analysis, compliance auditing, and lease abstraction.
Typical document types processed include commercial contracts, employment agreements, real estate leases, vendor agreements, and other legal documents requiring detailed clause-by-clause analysis. The system is particularly valuable for organizations that need to review large volumes of contracts within tight deadlines, with users reporting approximately 30% faster completion times compared to manual review methods.
Company
Founded in 2011 and headquartered in Toronto, Canada, Kira Systems has grown to approximately 60 employees. The company reported $19.1 million in revenue in 2024 and has secured $50 million in funding to support its continued development and market expansion.
Pricing varies based on organization size and requirements, with small businesses (up to 10 users) typically paying around $500 monthly, while larger enterprises with 100 users may pay between $2,000 to $5,000 monthly. Additional costs may include implementation, training, and data migration services.
Sources
- Kira Systems
- ABBYY Blog - What Is Intelligent Document Processing
- AWS - What is Intelligent Document Processing
- ABBYY Blog - OCR vs. IDP
