EvenUp, a prominent provider of artificial intelligence solutions for the personal injury legal sector, announced it has raised a $150 million Series E funding round, which was led by Bessemer Venture Partners and included participation from REV, the venture capital arm of RELX, alongside B Capital, SignalFire, Adams Street, Bain Capital, HarbourVest, Lightspeed, and Broadlight Capital. This investment brings EvenUp’s total capital raised to $385 million and elevates its valuation to over $2 billion, more than doubling it within a year. The latest funding marks EvenUp’s fourth financing round in 24 months, each preempted by investors, highlighting the company’s growth and market confidence in its mission to revolutionize personal injury law through AI. The platform’s rapid adoption underscores a significant shift in how legal professionals manage injury claims. EvenUp’s core offering, the Claims Intelligence Platform™, leverages its proprietary Piai™ model, which has been trained on hundreds of thousands of injury cases and millions of medical records. This AI system proactively assists with drafting, reviewing, and strategizing throughout the entire case lifecycle, aiming to enhance efficiency and outcomes for legal teams and their clients. The platform has reportedly contributed to securing billions of dollars in settlements and accelerating case timelines by the equivalent of many thousands of years of earlier resolutions. Rami Karabibar, CEO and co-founder of EvenUp, emphasized the increasing reliance on AI in the legal field. “Legal AI is no longer a side bet; it’s becoming the backbone of personal injury law,” Karabibar stated. He noted that in the past six months, case volume on the platform nearly doubled to 10,000 cases per week, allowing firms to increase revenue without expanding staff and enabling victims to achieve better results more quickly. To date, EvenUp has facilitated the resolution of over 200,000 cases, securing more than $10 billion in damages for injury victims. Over 2,000 firms, including 20% of the top 100 U.
S. personal injury firms, utilize EvenUp’s platform. With its Annual Recurring Revenue (ARR) doubling year-over-year, the company is establishing itself as a leading AI solution for modern personal injury law practices. Investor confidence was echoed by Sameer Dholakia, partner at Bessemer Venture Partners, who commented, “EvenUp’s vision is to give every personal injury attorney a trusted AI partner, bringing the collective wisdom of hundreds of thousands of cases to every decision.” Sean Fitzpatrick, CEO of LexisNexis North America, UK & Ireland, highlighted EvenUp’s alignment with their goals: “LexisNexis Legal & Professional and REV invest in customer-centric innovators who strive to make it easier for legal professionals to do their work.” Sebastian Duesterhoeft, partner at Lightspeed Venture Partners, added, “EvenUp is the clear leader in personal injury AI. Their proprietary data, domain expertise, and real-world results give them staying power.” EvenUp’s commitment to product innovation is evident in its recent launches, which now account for nearly 90% of new sales. These solutions support various stages of the case lifecycle, from document generation to surfacing insights for faster settlements and improved outcomes. The company recently unveiled Mirror Mode, an AI tool designed to replicate a firm’s successful document-based workflows by instantly generating tailored versions that match language, style, and structure. Legal professionals have reported tangible benefits. Kyle Wright, Managing Attorney at Wisehart Wright in Ohio, shared, “We went from an initial $50,000 offer to a $1.75 million settlement in mediation by using EvenUp’s Case Companion to dismantle the defense’s arguments in real time.” Steve Mehr, Founding Partner of Sweet James in California, noted, “We scaled past $500M in annual results with 70% YoY growth, all without increasing headcount. EvenUp has been a key partner in that journey.” John K. Zaid, Managing Partner and Founder of John K. Zaid & Associates in Texas, described EvenUp as the “backbone of our practice, driving us to operate at a higher level from intake to resolution.” Founded in 2019, EvenUp was conceived as an AI-first company by co-founders Rami Karabibar, Saam Mashhad, and Raymond Mieszaniec, who brought direct experience in personal injury and mobility startups. Mashhad, a practicing attorney, observed the loss of case value without proper tools, while Mieszaniec experienced the impact of a life-changing accident personally. Karabibar, from mobility startups like Waymo, recognized the inefficiencies in handling injury claims at scale. The company recently established a new headquarters in San Francisco and plans to expand its team across the U.
S. and Canada.
