Today, EvenUp, the market leader in personal injury AI and document generation, announced it has raised a $135 million Series D round of funding and significantly expanded its AI workflow and product suite. The round was led by Bain Capital Ventures, with participation from Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group. This brings the company's total funding to $235 million, with $220 million raised over the last 18 months. One of the largest funding rounds in legal AI history, it puts EvenUp's valuation at over $1 billion.

"At EvenUp, our mission is to close the justice gap through the power of technology and AI," said Rami Karabibar, CEO and co-founder of EvenUp. "We empower personal injury firms to deliver higher standards of representation, with the goal of ultimately helping the 20 million injury victims in the U.S. achieve fairer outcomes each year. With our latest products, funding, and proprietary data, we're now better equipped to serve our customers. We're also excited to continue investing in our talent, expanding our world-class leadership team with recent executive leaders from public companies."

Over 1,000 law firms use EvenUp, which has helped them claim over $1.5 billion in damages. EvenUp has flagged $200 million in missing documents, leading to settlement increases of up to 30% – putting more money back in plaintiffs' pockets faster. Based on internal data analysis, EvenUp's flagship product, Demands, is 69% more likely than non-EvenUp demand letters to achieve a policy limit settlement.

EvenUp's all-in-one Claims Intelligence Platform™ is powered by its AI model known as Piai™, which is trained on hundreds of thousands of injury cases, millions of medical records and visits, and internal legal expertise. The company's new suite of products span across the personal injury case lifecycle and include:

Equip case managers and attorneys with the tools for successful representation 

• Case Preparation: Law firm staff manage large volumes of cases and engage in painstaking document review tasks. Despite this, an alarming rate of claims are submitted with missing supporting documents. Case Preparation is the first product of its kind to proactively help case managers make the best decisions across the lifecycle of their cases, including identifying missing documents early and simplifying the review of records, improving the quality of case preparation, and reducing time to settlement.
• Negotiation Preparation: Negotiation Preparation helps injury professionals ensure they're never caught off guard in negotiations with insights on strengths, weaknesses, and key facts. Attorneys are then empowered with Case Companion, a state-of-the-art AI case assistant for real-time answers to complex questions, to quickly navigate their documents and return sourced-based answers.

Enable firms to reach new levels of performance

• Executive Analytics: Executive Analytics makes rich insights and powerful benchmarks from EvenUp's proprietary dataset easily accessible. AI insights across key case metrics like treatment continuity, demand delays, and more ensure executives have the data they need at their fingertips to unlock new best-in-class performance.

Equip attorneys with new visibility into their historical settlements

• Settlement Repository: With over 95% of cases settled privately, firms have lacked clean internal data to evaluate potential offers or inform negotiations on behalf of their clients. Settlement Repository solves this challenge.

EvenUp's engineering and product teams, which span 100+ people, have shipped 50+ releases this year alone. Twenty percent of its customers are already multi-product users, and EvenUp drafts 1,000+ documents per week for its customers, positioning EvenUp as the largest AI-document drafting platform in the U.S. Revenue has grown over 100% year-over-year, and EvenUp has also more than doubled its workforce in the U.S. and Canada in the past 12 months.

"Everyone is looking for ways that Gen AI can help people in the real world, and EvenUp's multi-product approach is the perfect example of that," 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 invest again in EvenUp as they embark on this new chapter."

"We are beyond excited to partner with EvenUp, which is streamlining the 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," said Sandesh Patnam, Managing Partner at Premji Invest.

"EvenUp's powerful insights have reshaped how we make decisions," said Steve Mehr, founder & 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 with precision and confidence."

"With first-of-its-kind transparency into case settlement outcomes, EvenUp truly lives up to its name by empowering advocates with accurate data, ensuring injured victims receive fair and full compensation," said Bob Simon, co-founder of The Simon Law Group.

Find out more about EvenUp's new products here: https://www.evenuplaw.com/

About EvenUp

EvenUp is on a mission to level the playing field in personal injury cases. EvenUp applies machine learning and its AI model known as Piai™ to reduce manual effort and maximize case outcomes across the personal injury value chain. Combining in-house human legal expertise with proprietary AI and software to analyze records. The Claims Intelligence Platform™ provides rich business insights, AI workflow automation, and best-in-class document creation for injury law firms. EvenUp is the trusted partner of personal injury law firms. 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 www.evenuplaw.com.

About Bain Capital VenturesBain Capital Ventures (BCV) is a multi-stage VC firm with over $10B under management investing across seven core domains—AI applications, AI infrastructure, commerce, fintech, healthcare, industrials and security. Leveraging the unique resources of Bain Capital, BCV deploys targeted support at every stage of the company-building journey. For over 20 years, BCV has helped launch and commercialize more than 400 companies including Attentive, Apollo.io, Bloomreach, Clari, Docusign, Flywire, LinkedIn, Moveworks, Redis and ShipBob. For more information, visit www.baincapitalventures.com.

Renovus Capital Partners ("Renovus"), a private equity firm based in the Philadelphia area, announced today that it has acquired a majority stake in class action case management solutions provider Angeion Group, LLC ("Angeion"). Founder & Chief Executive Officer, Steven Weisbrot, and senior members of the management team have maintained a significant ownership stake in the Company and will continue to drive the growth of the platform in partnership with Renovus. Marks Baughan Securities LLC served as the exclusive financial advisor to Angeion Group in the transaction.

Angeion, which is also headquartered in Philadelphia, is the leading innovator in the class action settlement industry. As a global provider of notice and claims administration services, the company has built a technology platform that enables its legal experts to manage the largest and most complex class action settlements.

The Renovus partnership will enable Angeion to accelerate the buildout of its management, client service, and delivery teams and increase investment in its proprietary class action technology solutions. Angeion plans to grow its leadership position in the US market and continue to develop its international business through a combination of key hires, new solutions, and strategic acquisitions.

Angeion was founded in 2013 by Steve Weisbrot, Esq. and Christopher Chimicles, with a mission to modernize the class action settlements industry. With over 160 team members, the Company provides high-quality service and innovative technology solutions in settlement administration, adapting to the constantly evolving legal services ecosystem. To date, its team has managed more than 2,000 class action settlements and distributed over $10 billion to class members.

"This partnership marks a major milestone in Angeion's growth journey," said Weisbrot. "The investment from Renovus is a testament to the dynamic team that has propelled Angeion into the great company that it is today and that will continue to drive its growth into the future. I am extremely proud of what we have accomplished, and I am even more energized for the years ahead."

"Angeion is one of the most differentiated and fastest growing players in class action services," said Renovus Managing Director Lee Minkoff. "Renovus has a track record of identifying unique tech-enabled legal services companies, aligning with management on a growth thesis, and making investments to execute that thesis. This is the exact opportunity we have with Angeion, and we could not be more excited to partner with Steve and the management team."

Marks Baughan served as exclusive financial advisor to Angeion Group.

About Angeion Group

Angeion Group stands at the forefront of settlement administration and legal noticing services. Leveraging advanced technology, proven best practices, and expert consulting, Angeion specializes in managing class actions and other types of mass litigation. Angeion's dedication to efficiency, accountability, and excellence instills confidence in counsel and the court alike. 

About Renovus Capital PartnersFounded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $2 billion of assets across its several sector focused funds. The firm's current portfolio includes over 30 U.S. based businesses specializing in education and workforce development and services companies in the technology, healthcare and professional services markets. Renovus typically makes control buyout investments in founder owned businesses, leveraging its industry expertise and operator network to make operational improvements, recruit top talent and pursue add-on acquisitions. Visit us at www.renovuscapital.com and follow us on LinkedIn.

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces a positive development on an investment within its Fund I portfolio.

LCM has funded a claim advanced in respect of an international arbitration claim brought against the Republic of Poland under the United Nations Commission on International Trade Law (UNCITRAL) Rules. The Tribunal has unanimously held in favour of the funded party that the Republic of Poland breached its obligations under the Australia-Poland Bilateral Investment Treaty and the Energy Charter Treaty.  

The quantum of the award entered in favour of LCM's funded party totals A$490 million plus interest.

LCM's funded party has therefore been successful in the claim. If the award is not subject to challenge and is not satisfied the dispute will move to an enforcement stage. We will assess any further funding requirements once the enforcement strategy has been finalised.

The total investment into the case to date is A$16.6 million (US$11.3 million). This investment comprises A$4.2 million (US$2.8 million) from LCM’s own balance sheet and A$12.4 million (US$8.5 million) of third party capital from Fund I. In line with our usual practice LCM's returns are calculated as a rising multiple of invested capital over time.  

This investment is no longer attended with liability and quantum risk as that has been decided. Final performance will be announced to the market after conclusion of the investment. However, if the award is satisfied within a reasonable period without the need for enforcement, then based upon the contractual terms with the funded party as at the date of this announcement, LCM would be entitled to a multiple of 6 times its own invested capital plus significant performance fees on third party capital invested. 

Patrick Moloney, CEO of LCM, commented: "This announcement represents a very significant milestone in this investment. Subject to any challenge to the very favourable and unanimous award we now move to an enforcement stage. This investment is part of Fund I and therefore stands to benefit from significant performance fees giving it the potential to be the most successful investment in LCM’s history."

About LCM

Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its income from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record driven by disciplined project selection and robust risk management. Currently headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

www.lcmfinance.com

An investment vehicle advised by Tactical Management has successfully acquired Avyana Litigation Funding, further expanding its strategic portfolio in the legal financing sector.

Tactical Management, a globally active turnaround investor, specializes in unlocking the potential of underperforming companies, distressed real estate, and non-performing loans. The firm’s expertise lies in driving value and growth through strategic and operational support across a range of sectors and asset types.

Avyana Litigation Funding is dedicated to democratizing justice by providing financial support for complex legal disputes. As a trusted partner to minority shareholders, investors, and businesses, Avyana not only funds their fight to pursue rightful claims but also helps them monetize these claims, turning legal challenges into financial opportunities.

The acquisition aligns with Tactical Management’s strategic focus on supporting businesses with high-growth potential through innovative solutions. The acquisition of Avyana allows Tactical Management to strengthen its presence in the legal financing market, offering comprehensive services such as:

• Shareholder Disputes: Funding legal battles over shareholder rights, corporate governance, and mismanagement.
• Investor Claims: Supporting claims related to corporate misconduct, fraud, or breach of fiduciary duty.
• Bankruptcy Litigation: Financing litigation to recover debts or protect interests during bankruptcy proceedings.
• Individual or Collective Legal Actions: Providing funding for both individual and group legal actions.

Through this acquisition, Tactical Management enhances its ability to generate value for investors and stakeholders by tapping into the rapidly growing litigation funding market.

Bridge Legal, a leading provider of AI legal workflows, data management, and predictive analytics solutions for litigation funders and the high-volume law firms they support, is pleased to announce the appointment of Chris Dore as Managing Director, Strategic Opportunities.

With over 15 years of experience as a litigator and litigation funder specializing in mass torts, single-event, and class-action matters, Chris brings a wealth of expertise to Bridge Legal. Prior to joining the company, he served as a Partner at Edelson PC, a nationally recognized mass tort and class-action law firm, and most recently as a Director at Burford Capital, the world's largest litigation funder.

In his new role, Chris will focus on expanding and managing Bridge Legal's capital market strategies in high-volume consumer litigation. He will leverage the company's industry leading marketing, intake, case maturation, and AI-driven software platform—Bridgify—to strengthen relationships within the mass tort, mass arbitration, and single-event space. His efforts aim to enhance the sophistication of services offered to Bridge Legal's law firm and litigation funder clients, providing them with the tools and resources necessary to thrive amidst increasing data complexity and operational risk.

"Bridgify's AI workflow capabilities are transforming the way litigation funders and law firms operate by providing unprecedented visibility over their investments and case portfolios," said Ed Scanlan, Founder & CEO of Bridge Legal. "We are thrilled to welcome Chris to our leadership team. His extensive experience in mass torts and litigation funding aligns perfectly with our strategic vision. With his leadership, we aim to further enhance Bridgify's AI-driven solutions to meet the evolving needs of litigation funders and the firms they support. Chris's role will be pivotal in deepening our relationships within the industry and elevating the services we provide."

"I'm excited to join the leading legal tech company in the industry," said Chris. "Bridgify represents the future of high-volume legal services and litigation funding by integrating AI to streamline and enhance every facet of investment and case management. By focusing on expanding capital investments in high-volume consumer litigation and leveraging Bridge Legal's innovative platforms, we can provide unparalleled value to our clients. I look forward to contributing to Bridge Legal's mission of increasing human access to justice and helping to lead the company into its next chapter."

About Bridge Legal

Bridge Legal is the leading provider of AI workflow and predictive analytics solutions for litigation funders and the law firms they support. From its Chicago office, the company also offers marketing and intake services to help firms build their dockets, as well as back-office support for rapid case prove-up, including Plaintiff Fact Sheets and medical record reviews. Combined with its flagship platform, Bridgify—which includes data management and normalization, AI-driven workflow automation, integration management, predictive analytics, client communication and asset monitoring and fund management—this provides a game-changing, flexible offering unmatched in the industry. By integrating advanced technology with industry expertise, Bridge Legal empowers its clients to streamline operations, enhance client services, and drive profitable growth in an increasingly complex legal landscape.