EvenUp, a legal tech startup developing artificial intelligence products for the personal injury field, has raised $135 million in Series D at a valuation of more than $1 billion.
The round was led by Bain Capital Ventures with participation from Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.
The San Francisco-based startup’s platform leverages AI models trained on hundreds of thousands of personal injury cases, medical records, and in-house legal knowledge. This platform helps in document generation, litigation and negotiation preparation.
“EvenUp’s mission is to close the justice gap through the power of technology and AI,” co-founder and CEO Rami Karabibar said in a release. “We are committed to empowering personal injury insurance companies to provide a higher standard of representation, with the goal of ultimately helping America’s 20 million injury victims achieve fairer outcomes each year. We support you.”
EvenUp was founded in 2019 and has raised $235 million, according to the company.
Powering legal technology with AI
Legal tech has taken a huge leap forward this year, thanks in large part to AI.
Legal tech startups have already raised $1.9 billion this year, according to data from Crunchbase. Last year, VC-backed legal tech startups raised less than $1 billion.
EveneUp’s raise is the second largest of the year so far. In July, Vancouver-based legal tools platform Clio secured a $900 million Series F at a $3 billion valuation.
That same month, San Francisco-based AI legal tech startup Harvey raised $100 million.
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