Kira Systems, the machine learning contract analysis provider, was named a 2016 IDC Innovator in Machine Learning-Based Text Analytics. The report, IDC Innovators: Machine Learning-Based Text Analytics, 2016,1 highlights five notable innovators who offer an innovative new technology, a groundbreaking approach to an issue, and/or an interesting new business model.
Kira’s proprietary machine learning technology excels at automatically identifying and extracting relevant information from all types of contracts, and organizes it into metadata that can be exported and synced into other systems. Kira comes with built-in machine learning models covering general commercial terms, real estate leases and compliance terms, as well as those provisions that are commonly reviewed in due diligence and post-merger integration.
Kira Systems’ customers, who include some of the world’s largest corporations and professional services firms, can also customize Kira’s capabilities. With the easy-to-use Kira Quick Study tool, anyone can train additional machine learning models that can accurately identify virtually any desired clause.
Earlier this month, Kira Systems was also named the winner of Legaltech News 2016 Innovation Award for Knowledge Management Software of the Year.
“We are proud to be named as an IDC Innovator in machine learning-based text analytics,” said Noah Waisberg, CEO and co-founder of Kira Systems, and frequent writer and speaker on the topic of machine learning and author of the widely read contract review buyer’s guide blog posts. “Not all machine learning textual analysis systems are accurate for contract review. We have spent years testing and refining our proprietary algorithms to excel at this, and we are thrilled to be recognized for our uniquely accurate and flexible technology.”
About Kira Systems
Kira Systems helps enterprises uncover relevant information in unstructured contracts and related documents. Our powerful, award-winning software excels at searching and analyzing contract text. Kira offers pre-built machine learning models covering due diligence, general commercial, corporate organization, real estate and compliance. Using Kira Quick Study, anyone can train additional models that can accurately identify virtually any desired clause. Kira can be deployed on virtual data rooms and other large repositories of contracts, creating summary analyses within minutes. Customers, who include some of the world’s largest corporations and professional services firms, trusted Kira on over $100 billion of M&A transactions in 2015 alone. They also deploy Kira for knowledge management, contract search, analytics, and other use cases where visibility into contract provisions is critical. To find out more, please visit www.kirasystems.com.
About IDC Innovators
IDC Innovators reports present a set of vendors – under $50M in revenue at time of selection – chosen by an IDC analyst within a specific market that offer an innovative new technology, a groundbreaking approach to an existing issue, and/or an interesting new business model. It is not an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies. IDC INNOVATOR and IDC INNOVATORS are trademarks of International Data Group, Inc.
1IDC Innovator: Machine Learning-Based Text Analytics Market, (Doc# US41312116), June 2016)