EvenUp, a legal tech startup that develops artificial intelligence products for the personal injury field, has successfully closed a $135 million Series D funding round, pushing its valuation beyond $1 billion.
The investment was spearheaded by Bain Capital Ventures, with contributions from Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.
Based in San Francisco, EvenUp’s platform leverages an AI model. This model is trained on an extensive dataset comprising hundreds of thousands of injury cases, medical records, and proprietary legal knowledge. The platform is designed to streamline document creation, case preparation, and negotiation processes.
“At EvenUp, our core mission is to address the justice gap by harnessing the potential of technology and AI,” stated Rami Karabibar, co-founder and CEO, in a public announcement. “We equip personal injury law firms with the tools to provide superior representation, with the ultimate aim of assisting the 20 million injury victims in the U.S. in securing more equitable outcomes annually.”
Established in 2019, EvenUp has now amassed a total of $235 million in funding, according to company reports.
The AI-Driven Surge in Legal Tech
The legal tech sector has experienced a significant surge in growth this year, largely driven by advancements in artificial intelligence. According to Crunchbase data, legal tech startups have collectively raised $1.9 billion this year alone.
This represents a substantial increase from the previous year when VC-backed legal tech startups raised less than $1 billion. The EvenUp funding round marks the second-largest investment in the legal tech space this year. In July, Clio, a legal tools platform based in Vancouver, closed a $900 million Series F round, reaching a $3 billion valuation. Also in July, Harvey, an AI legal tech startup based in San Francisco, secured a $100 million investment.
