EvenUp Raises $50 Million at $325 Million Valuation

EvenUp is a legal AI company that specializes in helping law firms and legal departments streamline their processes, reduce costs, and improve efficiency. EvenUp has developed a suite of AI-powered tools that enable legal professionals to automate time-consuming manual tasks, analyze large amounts of data quickly and accurately, and gain valuable insights into legal matters.

Legal AI company EvenUp has raised an additional $50.5 million in Series B funding from new investors including Bessemer Venture Partners and Bain Capital Venture. Participants in the latest round included existing investors SignalFire, NFX, and DCM.

EvenUp, San Francisco, United States, was founded in 2019 by Rami Karabibar, Raymond Mieszaniec, and Saam Mashhad. EvenUp currently has over 300 customers, who pay annual subscription prices in the thousands to hundreds of thousands of dollars and has already exceeded $10 million in recurring revenue this year. EvenUp provides a product to personal injury law firms that automates the workflow for demand letters, using generative AI and a proprietary legal dataset. Its customers have seen a 30% increase in payouts, in addition to time savings from drafting legal claims, CEO Rami Karabibar said.

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