Tool Directory · Contract Management

Kira Systems

by Litera (Acquired Kira Systems in 2021\)

An AI engine integrated into the Litera platform, specializing in automatically identifying and extracting key information from contracts and related documents, primarily for due diligence and contract analysis.

Professional

Overview

Kira Systems was a pioneering AI platform focused on contract analysis, particularly for M&A due diligence and lease abstraction. Acquired by Litera in 2021, Kira's technology is now a core component of Litera's AI strategy. It uses machine learning to automatically find and extract specific clauses, provisions, and data points from large volumes of contracts and other documents. Kira comes with pre-built "smart fields" trained to recognize hundreds of common provisions, but users can also quickly train custom models using its "Quick Study" feature to find unique or specific information. It's designed to significantly accelerate document review processes, improve accuracy, and provide structured data for analysis, often used within Litera's transaction management workflows.

Use cases

Primary: M&A Due Diligence contract review, Lease Abstraction.

Other use cases:

  • • Contract analysis for compliance
  • • Internal investigations
  • • Knowledge management (extracting data from firm precedents)
  • • Financing/Securitization review.

AI capabilities

  • → Machine Learning (ML) for clause identification and data extraction
  • → Natural Language Processing (NLP)
  • → Supervised Learning (Quick Study feature for custom model training).

Pros & Cons

Pros

  • ✓ Significant time savings on document review
  • ✓ High accuracy for trained provisions
  • ✓ Ability to quickly train custom models
  • ✓ Reduces risk of missed clauses
  • ✓ Provides structured data output for analysis.

Cons

  • ! Now part of the larger Litera ecosystem (requires buying into Litera)
  • ! Pricing likely enterprise-focused
  • ! Effectiveness depends on model training (pre-built or custom)
  • ! Primarily focused on analysis/extraction rather than full CLM workflow (though integrated).

Pricing

Model: SaaS subscription via Litera. Requires custom quote.

Pricing details: Not publicly disclosed.

Integrations

  • • Integrates with Litera Transact
  • • Likely integrates with major DMS (iManage, NetDocuments) via Litera platform
  • • API potentially available.

What sets it apart

  • ★ Proven accuracy and effectiveness in contract analysis (especially due diligence)
  • ★ User-friendly "Quick Study" feature for rapid custom model training
  • ★ Strong reputation built pre-acquisition
  • ★ Integration into Litera's broader workflow solutions.

Compliance & security

Check Litera's certifications (SOC 2, ISO 27001).