The legal industry has long grappled with complexity and inefficiency, making EvenUp’s recent achievement all the more significant. The company has raised $135 million in its Series D funding round, marking one of the largest investments in the legal AI sector. This remarkable milestone, led by Bain Capital Ventures and supported by prominent investors such as Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group, elevates EvenUp’s total funding to an impressive $235 million, with $220 million secured in just the past 18 months.
When Rami Karabibar, Raymond, and Saam founded EvenUp four years ago, their mission transcended the pursuit of headlines; it was about creating meaningful change for millions of Americans grappling with the challenges that arise after being injured through no fault of their own. Karabibar expressed pride in reaching this pivotal milestone, noting, “It’s their belief in what we’re building that propels us forward.”
The Series D round was led by Bain Capital Ventures, with participation from notable investors including Lightspeed Venture Partners, SignalFire, and Bessemer Venture Partners.
The funding not only underscores EvenUp’s innovative approach to legal technology but also sets a precedent in the industry, marking one of the largest funding rounds in legal AI history. With this new capital, EvenUp is poised to enhance its mission of closing the justice gap through technology and AI, empowering law firms to deliver superior standards of representation. Since its inception, EvenUp has helped its partners claim over $1.5 billion in damages and flagged $200 million in missing documents, significantly increasing settlement amounts for injury victims.
As part of this announcement, EvenUp unveiled four groundbreaking products that will further transform the personal injury legal landscape through its Claims Intelligence Platform™. The new offerings include:
- Case Preparation: A first-of-its-kind product that helps case managers identify missing documents and streamline the review process.
- Negotiation Preparation: This tool equips injury professionals with insights on strengths and weaknesses, ensuring they are never caught off guard during negotiations.
- Executive Analytics: A feature providing rich insights and powerful benchmarks, promoting best-in-class performance within law firms.
- Settlement Repository: This data-driven tool enables personal injury lawyers to evaluate settlement offers more effectively.
EvenUp’s innovative AI model, Piai™, trained on hundreds of thousands of injury cases and millions of medical visits, powers these new products, designed to enhance customer workflows and maximize claim value.
While this funding is a significant milestone, Karabibar emphasizes that it is just the beginning: “While this is a moment to celebrate, it’s also just the beginning. The work ahead is bigger than anything we’ve done so far, and we’re ready for it.” The company plans to use the funds to hire additional engineers, product professionals, and data scientists. Additionally, EvenUp aims to double its go-to-market team over the next 18 months and expand its leadership team to further bolster its capabilities.
As EvenUp continues its journey, it remains committed to serving its clients and the millions of injury victims in the U.S. who deserve fairer outcomes.