US-based legaltech startup EvenUp has raised $135 million as part of its Series D funding round led by Bain Capital Ventures, with participation from new investor PremjiInvest and existing backers including Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.
The startup was valued at over $1 billion in the funding round. It also said that with this round, the startup has raised a total funding of $235 million, with $220 million (including this $135 million) raised over the last 18 months. Its other investors include NFX and DCM.
“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,” said Sandesh Patnam, managing partner at PremjiInvest.
EvenUp has more than 1,000 personal injury law firm customers. It claims that it helped these firms claim over $1.5 billion in damages and flag $200 million in missing documents.
“Everyone is looking for ways that GenAI can help people in the real world and EvenUp’s multi-product approach is the perfect example of that,” said Aaref Hilaly, partner at Bain Capital Ventures.
“The work CEO Rami Karabibar 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.”
"At EvenUp, our mission is to close the justice gap through the power of technology and AI," EvenUp's Karabibar said.
"We empower personal injury firms to deliver higher standards of representation, with the goal of ultimately helping the 20 million injury victims in the US achieve fairer outcomes each year.”
Alongside the fundraising, the company has also launched the “Claims Intelligence Platform”, which was built using insights from its Demands platform. It said that the platform is powered by its AI model known as Piai, which is trained on hundreds of thousands of injury cases and millions of medical visits.
