Zuva, an AI-powered document processing platform, closed a $20 million series A funding round led by New York-based Insight Partners.
The Series A round, which is Zuva’s first raise, will be put toward hiring, product, sales, and marketing development as well as R&D for current and future products.
Company: Zuva Inc
Round: Series A
Funding Month: September 2021
Lead Investors: Insight Partners
Company Website: https://zuva.ai/docai/
Software Category: AI-powered Document Processing Platform
About the Company: Zuva is a Trusted Document AI in Your Applications Empowering developers to build solutions that unlock the value of document data, Zuva is a spinout from Kira Systems, which was founded in 2011 to apply AI technologies to contract and document review. Kira, which grew from 2 to over 200 employees over the past decade, was acquired by legal workflow company Litera in August. The spinout was part of the transaction. Zuva, which expects to expand its workforce to 45 or 50 employees by the end of the year, claims to have signed on three customers in the month since its launch.