EvenUp – a market leader in personal injury AI and document generation – announced it raised a $135 million Series D funding round and significantly expanded its AI workflow and product suite. Bain Capital Ventures led the round, which also included Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.
Including this funding round, the company’s total funding is $235 million, with $220 million raised over the last 18 months. As one of the largest funding rounds in legal AI history, it puts EvenUp’s valuation at over $1 billion.
Over 1,000 law firms utilize EvenUp – which has helped them claim over $1.5 billion in damages. And EvenUp has flagged $200 million in missing documents, leading to settlement increases of up to 30% – putting more money back in plaintiffs’ pockets faster. And based on internal data analysis, EvenUp’s flagship product Demands is 69% more likely than non-EvenUp demand letters to achieve a policy limit settlement.
EvenUp’s Claims Intelligence Platform is based on its AI model known as Piai, which was trained on hundreds of thousands of injury cases, millions of medical records and visits, and internal legal expertise. The company’s new suite of products spans the personal injury case lifecycle and includes:
1.) Case Preparation – Law firm staff manage large volumes of cases and engage in painstaking document review tasks. Despite this, an alarming rate of claims are submitted with missing supporting documents. Case Preparation is the first product of its kind to proactively help case managers make the best decisions across the lifecycle of their cases, including identifying missing documents early and simplifying the review of records, improving the quality of case preparation, and reducing time to settlement.
2.) Negotiation Preparation – Negotiation Preparation helps injury professionals ensure they’re never caught off guard in negotiations with insights on strengths, weaknesses, and key facts. Attorneys are then empowered with Case Companion, a state-of-the-art AI case assistant for real-time answers to complex questions, to quickly navigate their documents and return sourced-based answers.
3.) Executive Analytics – Executive Analytics makes rich insights and powerful benchmarks from EvenUp’s proprietary dataset easily accessible. AI insights across key case metrics like treatment continuity, demand delays, and more ensure executives have the data they need at their fingertips to unlock new best-in-class performance.
4.) Settlement Repository – With over 95% of cases settled privately, firms have lacked clean internal data to evaluate potential offers or inform negotiations on behalf of their clients. Settlement Repository solves this challenge.
EvenUp’s engineering and product teams, spanning 100+ people, have shipped 50+ releases this year alone. And 20% of its customers are already multi-product users, and EvenUp drafts 1,000+ documents per week for its customers, positioning EvenUp as the largest AI-document drafting platform in the U.S. The company revenue has grown over 100% year-over-year, and EvenUp has also more than doubled its workforce in the U.S. and Canada in the past 12 months.
KEY QUOTES:
“At EvenUp, our mission is to close the justice gap through the power of technology and AI. We empower personal injury firms to deliver higher standards of representation, with the goal of ultimately helping the 20 million injury victims in the U.S. achieve fairer outcomes each year. With our latest products, funding, and proprietary data, we’re now better equipped to serve our customers. We’re also excited to continue investing in our talent, expanding our world-class leadership team with recent executive leaders from public companies.”
-Rami Karabibar, CEO and co-founder of EvenUp
“Everyone is looking for ways that Gen AI can help people in the real world, and EvenUp’s multi-product approach is the perfect example of that. The work Rami and his team are doing in the legal technology space is unmatched, especially given the quality of data they provide to customers and their new workflow products. We are excited to double down and invest again in EvenUp as they embark on this new chapter.”
-Aaref Hilaly, partner at Bain Capital Ventures
“We are beyond excited to partner with EvenUp, which is streamlining the day-to-day tasks of attorneys and case managers. The product velocity here is like no other – EvenUp will soon serve as the singular technology platform addressing nearly every pain point personal injury attorneys face.”
-Sandesh Patnam, Managing Partner at Premji Invest
“EvenUp’s powerful insights have reshaped how we make decisions. Access to this type of business intelligence solidifies our position as the market leader. Their platform enables us to stay ahead of the competition while scaling with precision and confidence.”
-Steve Mehr, founder & partner at Sweet James
“With first-of-its-kind transparency into case settlement outcomes, EvenUp truly lives up to its name by empowering advocates with accurate data, ensuring injured victims receive fair and full compensation.”
-Bob Simon, co-founder of The Simon Law Group
