Personal injury claims startup EvenUp today (8 October) announced that it has raised a $135m Series D funding, putting its valuation at over $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. This brings the company’s total funding to $235m.
EvenUp’s all-in-one Claims Intelligence Platform is powered by its AI model known as Piai, which is trained on hundreds of thousands of injury cases, millions of medical records and visits, and internal legal expertise. The company’s new suite of products span across the personal injury case lifecycle and help case managers to prepare cases including reviewing documents; making evidence-based decisions; identifying missing documents; and preparing for negotiation. Executive Analytics provides insights across key case metrics.
“At EvenUp, our mission is to close the justice gap through the power of technology and AI,” said Rami Karabibar, CEO and co-founder of EvenUp. “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. We’re also excited to continue investing in our talent, expanding our world-class leadership team with recent executive leaders from public companies.”
Over 1,000 law firms use EvenUp, which has helped them claim over $1.5bn in damages. EvenUp says that it has flagged $200m in missing documents, leading to settlement increases of up to 30%. Based on internal data analysis, EvenUp’s flagship product, Demands, is 69% more likely than non-EvenUp demand letters to achieve a policy limit settlement.
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“Everyone is looking for ways that Gen AI 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 Rami 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. We are excited to double down and invest again in EvenUp as they embark on this new chapter.”
Find out more about EvenUp’s new products here: https://www.evenuplaw.com/