Every year, millions of injury claims are filed, but over 90% of these cases are settled privately, leaving plaintiffs and injury attorneys uncertain about the true value of their specific cases. Today, EvenUp is taking a significant stride forward in its quest to level the playing field in personal injury law. We've raised $50.5 million led by Bessemer Venture Partners to scale our AI-Demands product that analyzes medical records and generates demand letters, ensuring that plaintiffs receive the rightful compensation they deserve. Additionally, we are thrilled to integrate our platform with Litify, the leading legal practice management software. And we're launching our own AI legal assistant Litty that can summarize legal cases and generate legal documents automatically.
But to take a step back, I want to share why we're so passionate about building giving personal injury victims better representation. My co-founder, Ray Mieszaniec, felt the pain of this problem personally. His father was permanently disabled when hit by a car being chased by police. But because their lawyer didn’t know what an appropriate compensation should be, their family got a small fraction of what their case is worth.
While we cannot change Ray's story, we are dedicated to making a difference in the lives of the millions of Americans who find themselves in similar situations every year. Our mission is to EvenUp the playing field for all injury victims.
SAN FRANCISCO, June 8, 2023 — EvenUp, the market leader in AI-driven support for personal injury lawyers, today announced its $50.5M Series B funding round led by Bessemer Venture Partners, with participation from Bain Capital Ventures, Scott Belsky (Founder, Behance), and legal tech leader Clio. Sameer Dholakia, Bessemer Partner and co-lead of the firm’s growth investment practice, will be joining EvenUp’s board of directors.
With this new funding, EvenUp will deepen the functionality and feature set of its platform, invest and hire to support growth, and introduce new technologies and products for personal injury and other fields of law. Taking two major steps toward these goals, EvenUp today also announced Litty, the first-ever AI personal injury assistant, and a deep integration with legal practice management software leader Litify.
“The AI revolution promises to drive massive productivity gains and allows great entrepreneurs to re-imagine the way work is done. EvenUp is a fantastic example of these principles applied to personal injury law,” said Sameer Dholakia, Partner at Bessemer. “Their AI-native solution will provide superpowers to lawyers and paralegals, making them factors more productive and yielding fairer settlements for their clients. Bessemer has long believed in the Vertical SaaS model and has made multiple investments in the LegalTech industry over the past decade. We are thrilled to see two of our recent investments (Litify and EvenUp) announce a partnership that will change the way the personal injury industry does its work.”
“The legal industry is poorly served by current technology, with highly skilled and well-compensated talent spending time in areas AI is perfectly positioned to accelerate,” said Sarah Hinkfuss, Partner at Bain Capital Ventures (BCV). “Clients and law firms alike love EvenUp's faster, fairer resolution, and we're delighted to be a part of EvenUp's journey to turbocharge the legal industry.”
Previous investors who also participated in this round include SignalFire, DCM, NFX, and Gokul Rajaram (DoorDash executive and board member at Pinterest, Coinbase and The Trade Desk). EvenUp’s earlier investors include tech entrepreneurs like Adam D’Angelo (CEO of Quora) and Kevin Hartz (CEO of Eventbrite), and public figures who believe in and care about EvenUp’s mission, among them Nas, Jared Leto, and Byron Jones.
EvenUp is a generative AI startup on a mission to level the playing field in personal injury cases. EvenUp turns raw case files, such as medical records, bills, and police reports, into AI-generated legal documents for injury lawyers. These legal documents, called demand packages, value what these injury cases are worth, enabling injury attorneys to expedite settlements and secure the full compensation their clients rightfully deserve.
Over 20 million injury cases are settled in the US yearly, but more than 9 in 10 injury settlements are kept private. This leaves lawyers guessing what they should propose as a settlement amount, often leaving victims undercompensated. On top of that structural challenge, the writing process itself is messy: extracting relevant info from dozens of chaotic PDFs is time-consuming error-prone work, and organizing and composing findings into a demand package is its own complicated project.
“We’ve seen settlements up meaningfully since starting to use EvenUp,” according to a satisfied EvenUp customer at a Pennsylvania-based law firm. “Let’s just say that I’ve done as much revenue in the first quarter of this year as I did in all of last year.”
By working with EvenUp, personal injury law firms experience an average revenue lift of 30%+, resolve cases months sooner, and save hours of legal drafting time per claim. EvenUp has trained its models on hundreds of thousands of pages of medical records and hundreds of thousands of cases, compiled into possibly the largest-ever repository of case data. With each case EvenUp works on, its technology gets better at making demand packages faster and more accurately, leading to better case outcomes and lower costs.
Today, EvenUp is also announcing a deep integration with Litify, the most flexible and secure legal practice operating platform, which makes running a legal practice faster and more efficient. Through this partnership, thousands of lawyers new to EvenUp will be able to save time and costs with EvenUp’s AI-driven demand packages, improving their case outcomes while simplifying their workflows on their existing software platform.
“Litify’s mission is to break down business and team siloes with an open platform that can provide legal professionals with a single place to do their work,” said Ari Treuhaft, President and COO of Litify. “The integration with EvenUp helps us further this mission and offers our large base of personal injury clients even more efficiency with AI-driven demand letters integrated directly into the platform.”
Personal injury attorneys whose practices run on Litify can now further simplify their daily workloads with EvenUp. With the click of a button, Litify customers can request an EvenUp AI-driven demand package directly from their Litify dashboard, drawing from case records already managed within Litify. EvenUp securely ingests relevant documents, meeting SOC 2 compliance standards, and uses machine learning to identify critical data points, such as billing amounts and treatment dates. EvenUp then pipes that data back into Litify, reducing manual data entry and clean-up. Finally, with the help of EvenUp’s Litty AI, EvenUp generates a demand package within days, and uploads the final document directly into Litify and attorneys’ workflows.
EvenUp is a generative AI startup on a mission to level the playing field in personal injury cases. EvenUp applies machine learning and its Litty generative AI to reduce manual effort and maximize case outcomes across the legal value chain, starting with personal injury law. By combining in-house human legal expertise with proprietary software to analyze medical and police records, EvenUp produces high-quality AI-driven demand packages in a fraction of the time and cost. Backed by top VCs, including Bessemer Venture Partners, Bain Capital Ventures (BCV), SignalFire, NFX, DCM, and more, EvenUp’s customers range from top trial attorneys to America’s largest personal injury firms. EvenUp was founded in late 2019 and is headquartered in San Francisco. Learn more at https://www.evenuplaw.com/.
