Akorda

Legal AI Contract Management Softwareakorda.com

Akorda is the parent of LegalSifter, Inc., a SaaS company that provides AI-powered contract review and CLM software for enterprise legal and procurement teams across healthcare, insurance, manufacturing, technology, and higher education, combining automated redlining software with human-assisted managed services.

Company typePrivate
Founded2015
HeadquartersSan Francisco, United States
Headcount1–10
GTM typeB2B
OfferingSoftware

What Akorda does

Akorda is the corporate parent of LegalSifter, Inc., a privately held AI contract review and contract lifecycle management (CLM) software company headquartered in Pennsylvania, USA. LegalSifter (the operating entity) was founded in 2015 to develop contract-specific AI tools that automate the review, redlining, and management of legal agreements, as distinct from generic AI chat applications.

The company's core product portfolio consists of two integrated offerings. LegalSifter ReviewPro is an AI-powered contract review tool that delivers automatic, professional-quality redlines inside Microsoft Word, customized to each customer's playbook (preferred terms, fallback language, and risk tolerance), with claimed review-time reductions of up to 90%. Contract Logix is the company's CLM platform that centralizes contracts, workflows, and approval processes, and includes AI-powered data extraction for key terms, search, and reporting. Underpinning these products are natural language processing for clause identification, generative AI for redline production, knowledge retrieval for term extraction, and workflow automation. The company also offers a 'Contract Management as a Service' bundle that pairs the AI software with human-assisted managed services (redlining, playbook customization, data extraction, and contract operations).

LegallySifter's go-to-market is sales-led and enterprise-focused, primarily targeting in-house legal, contract management, and procurement teams across five verticals: healthcare, insurance, industrial/manufacturing, technology, and universities/higher education. Revenue is generated through subscription-based SaaS licensing for ReviewPro and Contract Logix, supplemented by professional services revenue from the managed offering. Pricing is not publicly disclosed; the company relies on a demo-driven, quote-based sales motion with no published tiers, free trials, or self-service pricing. The company has raised a disclosed $4M in its most recent (December 2020) funding round led by Aspect Ventures, Bloomberg Beta, and Revel Partners, with cumulative funding modest relative to the broader CLM/contract-AI category. Leadership includes co-founder and CEO Derek Schueren and CTO Peter Charles.

Akorda firmographics

Firmographics

Name: Akorda
Legal name: LegalSifter, Inc.
Website: https://akorda.com
Company type: Private
Founded year: 2015
Operating status: Operating
Headcount range: 1–10 employees
Short description: Akorda is the parent of LegalSifter, Inc., a SaaS company that provides AI-powered contract review and CLM software for enterprise legal and procurement teams across healthcare, insurance, manufacturing, technology, and higher education, combining automated redlining software with human-assisted managed services.
Ownership category
akta.pro rank

Akorda industry classification

Industry

Product category: Legal AI Contract Management Software
NAICS: Software Publishers (5132), Software Publishers (513210), Custom Computer Programming Services (541511)
SIC: Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)
akta.pro primary industry: Contract Lifecycle Management (CLM) & Document Automation (BPAEAPAD)
akta.pro secondary industries: Contract Lifecycle Management (CLM) & Document Generation/Templating (HDAEAGAL), Vendor & Contract Management (Software/Cloud) (BPAEAOAD)

Keywords

Contract review software
AI contract redlining
Contract lifecycle management
Legal AI software
Contract intelligence platform

Where Akorda is headquartered

Location

Headquarters

HQ city: San Francisco
HQ country: United States
HQ region: North America

Markets served

Akorda business model

Business model

GTM type: B2B
Offering type: Software
Cost components: Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

SaaS Software Subscriptions (ReviewPro, Contract Logix): Subscription-based licensing of AI contract review software (ReviewPro) and contract lifecycle management platform (Contract Logix). Sold on a per-seat or enterprise contract basis with annual billing implied by the 'Request a Demo' enterprise sales motion.
Professional Services (Redlining, Playbook Customization, Data Extraction, Operations): Supplementary professional services including contract redlining by human experts, playbook customization, contract data extraction, and contract operations support. These services are offered as managed services (Contract Management as a Service) to supplement or replace in-house contract teams.

Pricing tiers

Model	Billing	Price
Subscription	—	Not publicly disclosed — quote-based sales

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Akorda product offering

Product offering

Core offering

Akorda/LegalSifter sells AI-powered contract review and redlining software (ReviewPro) that produces professional-quality, customizable redlines inside Microsoft Word, alongside Contract Logix, a contract lifecycle management (CLM) platform with AI-powered data extraction. The company also offers human-assisted Contract Management as a Service, including contract redlining by experienced professionals, playbook customization, and data extraction, bundled with the software to help enterprise legal and contract teams standardize negotiations, reduce review time by up to 90%, and manage the full contract lifecycle from intake to renewal.

Product overview

LegalSifter offers a dual-product portfolio centered on AI contract intelligence. The core offerings are LegalSifter ReviewPro (AI contract review and redlining software that works within Microsoft Word) and Contract Logix (contract lifecycle management platform). ReviewPro delivers automatic, professional-quality redlines customized to user-defined playbooks and standards, claiming up to 90% faster review times. Contract Logix manages the full contract lifecycle from intake through approval to renewal, incorporating AI-powered data extraction for key terms, standardized workflows, and portfolio visibility. Both products emphasize contract-specific AI rather than generic AI chat.

Differentiator

Problem solved

Functional benefit

Brands

ReviewPro: AI-powered contract review and redlining software that delivers professional-quality redlines customized to user standards, integrated with Microsoft Word.
Contract Logix

Products and services

LegalSifter ReviewPro AI-powered contract review software that delivers automatic, professional-quality redlines inside Microsoft Word, customized to user-defined contract review standards and playbooks. Claims up to 90% faster review times for in-house legal and contract management teams.
Contract Logix AI-powered contract lifecycle management (CLM) platform that centralizes contracts, workflows, and insights. Manages the full contract lifecycle from intake and approval to renewal, with AI-powered data extraction of key terms and standardized approval workflows.
Contract Management as a Service Managed service where experienced LegalSifter contract professionals review and redline agreements, configure customer-specific playbooks, and perform data extraction aligned to the customer's preferred terms and risk tolerance, complementing the AI software.
Contract Playbook Builder Tool that allows customers to build contract playbooks encoding preferred terms, fallback language, and risk tolerance. The playbooks guide AI redlines and human review to ensure consistent contract positions across teams.

Quantifiable outcome

Up to 90% faster contract reviews with AI

Companies that use Akorda

Customer profile

Segments6 records

Ideal customer profiles2 records

Akorda technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Akorda partnerships and signals

Strategic signal

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Akorda competitors and assessment

Company assessment

Direct peers

Ironclad: AI-powered CLM platform targeting in-house legal teams with contract review, redlining, workflow, and analytics. Closely comparable product surface (CLM + AI review) and target buyer (enterprise legal/contract management) to LegalSifter.
Icertis: Enterprise CLM platform with AI-based contract intelligence, clause extraction, and negotiation tools. Directly comparable as a CLM+AI vendor for large enterprises, though typically at much larger deal sizes and with deeper ERP integrations.
Evisort: AI-native contract lifecycle management and analysis platform that automates contract review, extraction, and obligation tracking. Direct competitor in AI contract intelligence with comparable NLP-driven clause analysis.
LinkSquares: AI-powered contract analysis and CLM platform focused on in-house legal teams. Competes head-to-head with LegalSifter on AI-driven contract review, metadata extraction, and post-signature analytics for mid-market and enterprise legal departments.
Agiloft: Customizable CLM platform with AI clause extraction and contract review capabilities serving enterprise and government buyers. Comparable in core CLM/AI contract review functionality, often competing for similar enterprise RFPs.
ContractPodAi (now Evisort-adjacent / Leaptable): AI-driven CLM platform offering contract review, extraction, and lifecycle management for in-house legal. Directly comparable in target buyer, AI-first positioning, and CLM/contract intelligence scope.

Broad incumbents

DocuSign CLM (formerly SpringCM): CLM offering from DocuSign, bundling contract repository, workflow, and AI capabilities with DocuSign's e-signature installed base. Comparable contract management functionality as part of a much broader agreement-cloud portfolio.
Conga: CLM and document generation suite with AI-assisted contract review and redlining. Comparable in CLM/contract review scope and sits within a broader document automation, e-signature, and revenue lifecycle portfolio.
Onit (including SimpleLegal and Juridoc assets): Enterprise legal operations platform with CLM, contract review, and AI-driven analytics for corporate legal departments. Comparable in CLM/AI review scope, with broader legal operations, matter management, and spend management offerings.

Emerging players

Lexion: AI contract management platform for in-house legal teams, with clause extraction, review automation, and a CLM repository. Direct competitor in AI-first legal tech, focused on mid-market and growth-stage companies.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Akorda financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Akorda leadership team

Management profile

Number of profiles

Profiles2 records

Akorda funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Akorda M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Akorda

What does Akorda do?

Is Akorda a public or private company?

Akorda is a private company. It is classified as venture growth investor backed and is currently operating.

When was Akorda founded?

Akorda was founded in 2015. It employs 1 to 10 people.

Where is Akorda based?

Akorda is headquartered in San Francisco, United States, in the North America region.

How does Akorda make money?

Two revenue lines are on record. SaaS Software Subscriptions (ReviewPro, Contract Logix) is the primary driver. The others are professional Services (Redlining, Playbook Customization, Data Extraction, Operations).

Who are Akorda's main competitors?

Direct peers on record are Ironclad, Icertis, Evisort, LinkSquares, Agiloft and ContractPodAi (now Evisort-adjacent / Leaptable). Broad incumbents are DocuSign CLM (formerly SpringCM), Conga and Onit (including SimpleLegal and Juridoc assets). Lexion is listed as an emerging player.

Does Akorda have an API?

No public API is recorded for Akorda.

What industry is Akorda in?

Akorda's product category is Legal AI Contract Management Software. Its primary akta.pro industry code is BPAEAPAD, Contract Lifecycle Management (CLM) & Document Automation, with a secondary code of HDAEAGAL, Contract Lifecycle Management (CLM) & Document Generation/Templating. Its NAICS code is 5132 and its SIC code is 7372.