EvenUp, the market leader in artificial intelligence and document generation for personal injury law, has raised $135 million in its Series D funding round.
The investment, led by Bain Capital Ventures, saw participation from prominent firms including Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group. This latest funding round brings EvenUp’s total capital raised to $235 million.
Rami Karabibar, CEO and co-founder of EvenUp, 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 U.S. achieve fairer outcomes each year. With our latest products, funding, and proprietary data, we’re now better equipped to serve our customers.”
EvenUp’s innovative platform is currently utilized by over 1,000 law firms, enabling them to claim more than $1.5 billion in damages. The company has identified $200 million in missing documents, resulting in settlement increases of up to 30 percent.
The company’s product, Demands, has 69 percent higher success rate in achieving policy limit settlements compared to non-EvenUp demand letters. EvenUp’s Claims Intelligence Platform is powered by its proprietary AI model, Piai, which has been trained on a vast dataset of hundreds of thousands of injury cases and millions of medical records.
EvenUp’s engineering and product teams, which consist of over 100 members, have delivered more than 50 releases this year alone.
Currently, 20 percent of EvenUp’s customers utilize multiple products, and the company drafts over 1,000 documents weekly, solidifying its position as the largest AI-driven document drafting platform in the U.S. The company’s revenue has grown by over 100 percent year-over-year, and EvenUp has also doubled its workforce across the U.S. and Canada in the past year.
