San Francisco-based legal AI startup EvenUp has made headlines by raising $135 million in Series D funding, propelling its valuation beyond the $1 billion mark. This significant investment, one of the largest in the legal AI sector, was led by Bain Capital Ventures, with participation from notable investors including Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.
Founded in 2019 by Rami Karabibar, Raymond Mieszaniec, and Saam Mashhad, EvenUp is on a mission to close the justice gap for personal injury victims. The company leverages advanced AI technology to help law firms enhance their case outcomes, aiming to secure fairer settlements for the estimated 20 million injury victims in the U.S. each year. EvenUp’s machine learning-powered model, Piai, streamlines the personal injury process by reducing manual work and improving overall outcomes.
With this latest funding round, EvenUp plans to launch four new products as part of its Claims Intelligence Platform™, designed to provide critical insights throughout a case’s lifecycle. These innovations are expected to accelerate workflows and increase claim values, further solidifying EvenUp’s position in the market.
The company’s platform is already making waves, with over 1,000 personal injury law firms utilizing its services. Since its inception, EvenUp has facilitated more than $1.5 billion in damages and uncovered $200 million in missing documents. Notably, its flagship product, Demands, has been shown to increase the likelihood of reaching policy limit settlements by 69%, often resulting in settlements that are 30% higher than those achieved without EvenUp’s intervention.
As EvenUp continues to grow and innovate, it remains committed to supporting its customers and enhancing the legal landscape for personal injury cases, ensuring that justice is more accessible for all.