In a significant development within the legal technology sector, EvenUp, an AI platform tailored for personal injury law, has secured $150 million in a Series E funding round. This latest financial injection elevates the company’s valuation to over $2 billion, marking a substantial rise from its previous valuation just a year ago. With this round, the total capital raised by EvenUp reaches $385 million in four rounds within two years.
Bessemer Venture Partners spearheaded the current funding round, with involvement from notable investors such as REV (part of RELX), B Capital, and Lightspeed among others.
EvenUp’s Claims Intelligence Platform stands out as a cornerstone of their offerings, utilizing extensive data from injury cases and medical records to provide AI-driven support for various legal processes. This includes drafting litigation documents, negotiating settlements, and tailoring trial preparations. According to CEO Rami Karabibar, this AI-driven approach is increasingly central to personal injury law, as more firms leverage EverUp’s tools without the need to expand their staff.
The firm boasts a reach that includes over 2,000 law firms, among them 20% of the top 100 in the U.S., handling upwards of 10,000 cases weekly and achieving over $10 billion in damages for clients.
In a noteworthy update, EvenUp has announced Mirror Mode, an innovative AI tool designed to replicate a firm’s best work across documentation workflows. The feature will allow firms to leverage successful drafts by producing versions reflecting their specific style and structure, set to be available soon.
This funding and the launch of new tools underscore the closing gap between AI technology and frontline legal services, positioning EvenUp distinctly in modern legal operations.