EvenUpA legal technology startup that creates artificial intelligence products for the personal injury sector has raised a $135 million Series D at a valuation of greater than $1 billion.
He led the round Bain’s capital ventureswith participation from Premji investment, Partners of the Lightspeed enterprise, Partners of the Bessemer enterprise, Fire Signal AND Capital Group B.
The San Francisco startup’s platform is powered by an artificial intelligence model that trains on a whole bunch of hundreds of injury cases, medical records and in-house legal knowledge. The platform helps in generating documents and preparing cases and negotiations.
“Our mission at EvenUp is to close the justice gap through the power of technology and artificial intelligence,” said co-founder and CEO Rami Karabibar In release. “We are enabling personal injury firms to provide higher standards of representation, with the ultimate goal of helping the 20 million U.S. injury victims achieve more equitable outcomes every year.”
Founded in 2019, EvenUp has raised $235 million, according to the company.
Legal AI technological empowerment
Legal technology has seen tremendous growth this 12 months – largely driven by artificial intelligence.
According to Crunchbase datalegal tech startups have already raised $1.9 billion this 12 months. Last 12 months, VC-backed legal tech startups raised lower than $1 billion.
EveneUp’s raise is the second largest so far this 12 months. In July, the Vancouver-based legal tools platform Clio closed a $900 million Series F at a valuation of $3 billion.
That same month, a San Francisco-based AI law startup Harvey raised $100 million.