Legal AI company EvenUp valued at over $1 billion in latest funding round
EvenUp, an AI startup that helps lawyers streamline tasks such as drafting and reviewing documents, was valued at over $1 billion on Tuesday, after it raised $135 million in a funding round led by Bain Capital Ventures.
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Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire and B Capital Group also participated in the round, which brought the company's total fundraise to $235 million, EvenUp said.
Despite subdued dealmaking activity elsewhere in private markets, AI startups have appealed to venture capital backers who are betting on a surge in demand for firms that help improve productivity.
Over 1,000 law firms use EvenUp, the company said. Its claims intelligence platform, which provides insights and helps with drafting documents, is powered by an AI model trained on personal injury cases, medical records and internal legal expertise.
«Many law firms are stretched thin, which is why they need technology to scale their top performers. This is especially critical in personal injury law firms, where attorneys often manage over 100 clients a year,» said Rami Karabibar, EvenUp's co-founder and CEO.
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