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Zuva AI

Zuva AI

Illuminate Your Contracts, Power Your Decisions

Streamline contract analysis with AI-driven insights, enhancing efficiency and strategic decision-making.
#41 in "Legal
#45 in "Writing
Price: Free + Paid

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Overview
Use cases
FAQ
Pricing & Discounts
UX/UI review
Team
Founder Interview
Funding
Overview
Use cases
FAQ
Pricing & Discounts
UX/UI review
Team
Founder Interview
Funding

Overview

Zuva is an innovative tool designed to enhance business efficiency and decision-making through advanced document and contract analysis. Originating as a spin-out from Kira Systems, a renowned contract analysis and AI business, Zuva has built a robust platform leveraging artificial intelligence to provide quick and reliable access to critical information within business documents​  ​. The company was established following the acquisition of Kira Systems by Litera in August 2021, with Zuva securing significant funding and launching its flagship product, DocAI, shortly thereafter​  ​.

DocAI is a cutting-edge, API-driven platform that empowers developers to integrate contract AI features into their applications without starting from scratch. This platform is designed to be intuitive and accessible, offering over 1,300 out-of-the-box AI fields developed and refined over a decade by experienced lawyers and subject matter experts​  ​. These fields can identify and extract key legal clauses, provisions, and data points from various document types, simplifying the contract review process and making it more efficient.

Zuva is known for its commitment to diversity, equity, and inclusion, fostering a workplace culture that values trust, collaboration, and innovation​  ​. With a foundation built on a successful history and a forward-looking approach to document intelligence, Zuva aims to broaden its impact beyond legal contexts, catering to a wide range of industries and applications​  ​.

Use cases

Zuva AI offers a wide range of use cases across different domains, reflecting its versatility and the broad applicability of its technology. Here are some key applications:

  1. Contract Negotiation and Management: Zuva AI facilitates the contract negotiation process by automating markups, suggesting revisions, and triaging reviews based on acceptable language and fallback clauses. This simplification extends to contract management, enhancing efficiency throughout the contract lifecycle, from creation and negotiation to execution and post-execution tasks​  ​​  ​.

  2. eDiscovery: In the realm of eDiscovery, which involves the search and discovery of electronic information for litigation or investigations, Zuva AI plays a crucial role. It aids in processing, reviewing, tagging, and producing electronic documents, especially those with a contract angle, making the eDiscovery process more efficient​  ​​  ​.

  3. Virtual Data Rooms (VDRs): Zuva AI enhances the functionality of VDRs, secure online spaces for sharing confidential documents during M&A due diligence, financings, litigation, and compliance activities. It supports large-scale collaboration with enhanced security measures, streamlining the due diligence process​  ​​  ​.

  4. Document Management Systems: Zuva AI addresses the limitations of traditional document management systems by enriching metadata automatically. This is particularly valuable for contracts, which are crucial documents within any organization. The AI's ability to enrich metadata improves searchability and access, directly impacting productivity and efficiency​  ​.

  5. Contract Analysis Software: Zuva AI is instrumental in contract analysis, speeding up the review of contracts in bulk, whether for event-driven reviews (like mergers and acquisitions or major regulatory changes) or for knowledge management purposes. The AI's ability to identify relevant documents, clauses, and entities, as well as interpret findings and connect related agreements, makes it a powerful tool for legal professionals​  ​.

  6. Audit: In auditing, Zuva AI is used to review samples of contracts to verify a company's business descriptions, customer commitments, revenue recognition, and disclosure of leases. This application of AI in audit processes ensures more efficient and accurate audits, reflecting one of the earliest uses of contracts AI technology​  ​.

These use cases demonstrate Zuva AI's versatility across various industries and processes, providing significant benefits in terms of efficiency, accuracy, and security. Whether it's simplifying complex contract negotiations, enhancing document management, or facilitating comprehensive audits, Zuva AI stands out as a robust solution tailored to modern business needs.

FAQ

Zuva AI is a platform that enhances business operations and decision-making by providing rapid and dependable access to the critical details of contracts and business documents through AI-driven analysis.

It employs AI, accessible via APIs and custom field training tools, to automatically extract essential information from significant business documents.

The primary investors include Insight Partners, a leading growth equity firm, along with co-founders of the platform.

Zuva is a spin-out from Kira Systems, a company known for its powerful machine learning software for contract analysis used by many of the world's largest law and accounting firms.

Yes, Zuva AI offers a free plan for its DocAI service, allowing a limited number of file processes and extractions daily, with no credit card required for sign-up.

Pricing & Discounts

Zuva AI offers two primary services with different pricing plans: DocAI and AI Trainer.

DocAI Pricing

  • Free Plan: Allows for 25 files, 25 classification requests, 25 language requests, and 25 extraction requests per day. This plan resets daily, and there's a maximum of 10 fields per request. No credit card is required to sign up for the free plan​  ​.
  • Pay-As-You-Go: This plan starts at $1.25 per document, with an additional $0.0015 charged per field/per page for extraction. This plan is designed for those looking to submit more requests and files daily. Discounts may be available with an annual commitment​  ​​  ​.

AI Trainer Pricing

  • Free Trial: Available for 30 days, allowing users to build custom fields for DocAI​  ​.
  • Monthly Subscription: Priced at $50 per seat, enabling your team to train custom fields as needed​  ​.
  • Annual Subscription: Costs $500 per seat, offering a savings of $100 per seat over the monthly plan​  ​.

These plans cater to various user needs, from those just starting with AI contract analysis to businesses requiring extensive document processing and custom field training capabilities. Zuva AI's pricing structure is designed to be flexible, allowing users to choose the plan that best fits their needs while offering the option to scale as those needs grow.

Team

The Zuva team is a diverse group of professionals including machine learning scientists, designers, developers, and lawyers, many of whom have significant experience in their fields. The team is known for their smart, collaborative, caring, and self-motivated nature, fostering a culture that values trust, iteration, collaboration, empathy, and fun. Key members include CEO and Co-Founder Noah Waisberg, VP of Research & Technology Adam Roegiest, and several others who contribute to the company's operations and innovations​  ​.

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Noah Waisberg  

CEO & Co-Founder, Board Member  

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Alexander Hudek

Co-Founder, Board Member

Funding

Zuva AI secured $20 million CAD in its Series A funding round, launched in September 2021. This funding was led by Insight Partners, a notable growth equity firm, alongside contributions from the co-founders Noah Waisberg and Alexander Hudek. The funds aim to enhance Zuva AI's development and its DocAI platform, which facilitates AI integration into applications for analyzing business documents and contracts​  ​.

Alina  Chernomorets

Published by: Alina Chernomorets

16 February 2024, 12:00AM

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