Premji Invest joins $135 mn funding round in EvenUp

US-based legal tech firm EvenUp has raised $135 million at $1 billion valuation in a funding round led by Bain Capital Ventures, Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.

The company has so far raised $235 million, with $220 million raised in the past 18 months.

“We empower personal injury firms to deliver higher standards of representation to ultimately help the 20 million injury victims in the US achieve fairer outcomes each year,” EvenUp CEO and co-founder Rami Karabibar said, adding the startup’s mission is to close the justice gap through the power of technology and AI.

Karabibar said the company will tap the funds to invest in talent and expand its leadership team.

Evenup’s Claims Intelligence Platform is powered by its AI model, Piai, trained on medical data comprising several personal injury cases, millions of medical records and visits, and internal legal expertise.

Sandesh Patnam, managing partner at Premji Invest, said EvenUp streamlines day-to-day tasks of attorneys and case managers.

“The product velocity here is like no other – EvenUp will soon serve as the singular technology platform addressing nearly every pain point personal injury attorneys face,” Patnam said.

“Everyone is looking for ways that GenAI can help people in the real world, and EvenUp’s multi-product approach is the perfect example,” said Aaref Hilaly, partner at Bain Capital Ventures.

“The work Rami and his team are doing in the legal technology space is unmatched, especially given the quality of data they provide to customers and their new workflow products. We are excited to double down and reinvest in EvenUp as they embark on this new chapter,” Hilaly added.

“EvenUp’s powerful insights have reshaped how we make decisions,” said Steve Mehr, founder and partner at Sweet James. “Access to this type of business intelligence solidifies our position as the market leader. Their platform enables us to stay ahead of the competition while scaling precisely and confidently.”