AI Legal Tech Startup EvenUp Raises $135M To Hit Unicorn Status

EvenUp, a authorized tech startup creating synthetic intelligence merchandise for the private harm sector, raised a $135 million Sequence D at a valuation of greater than $1 billion.

The spherical was led by Bain Capital Ventures, with participation from Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire and B Capital Group.

The San Francisco-based startup’s platform is powered by an AI mannequin which is educated on a whole lot of 1000’s of harm circumstances, medical information and inside authorized information. The platform helps with doc era and case and negotiation preparation.

“At EvenUp, our mission is to shut the justice hole by way of the ability of expertise and AI,” stated co-founder and CEO Rami Karabibar in a release. “We empower private harm companies to ship larger requirements of illustration, with the purpose of finally serving to the 20 million harm victims within the U.S. obtain fairer outcomes annually.”

Based in 2019, EvenUp has raised $235 million, based on the corporate.

AI’s authorized tech enhance

Authorized tech has seen an enormous bump this yr — primarily because of AI.

Per Crunchbase data, authorized tech startups have already raised $1.9 billion this yr. Final yr, VC-backed authorized tech startups raised lower than $1 billion.

The EveneUp elevate is the second largest of the yr so far. In July, Vancouver-based authorized instruments platform Clio locked up a $900 million Series F at a $3 billion valuation.

That very same month, ​​San Francisco-based AI authorized tech startup Harvey raised $100 million.

Associated Crunchbase Professional checklist:

Associated studying:

Illustration: Dom Guzman