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Commercial Fundraising

EvenUp Raises $135M in Series D Funding and Launches New Products to Help Level the Playing Field in Personal Injury Cases

By Harry Moran |

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.

About the author

Harry Moran

Harry Moran

Commercial

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Community Spotlights

Community Spotlight: James Koutoulas, CEO, JurisTrade & Typhon Capital Management

James Koutoulas is the CEO of JurisTrade as well its asset management affiliate, Typhon Capital Management, which is a multi-strategy hedge fund with US and Cayman private fund platforms. He is also Managing Member of Koutoulas Law, LLC, a law firm specializing in high-profile financial services litigation.

James founded Typhon in 2008 and it has since grown to 25 staff members, 15 (including many award-winning) trading strategies with operations in 4 countries and 8 cities. While running Typhon, he served as lead customer counsel in the MF Global bankruptcy, leading the recovery of all $6.7 billion in customer assets.

He has successfully litigated a multi-billion cryptocurrency fraud class action, a statistical arbitrage IP theft arbitration, a breach of contract jury trial against a billion-dollar asset management, and a capacity-rights guarantee contract dispute against a quantitative hedge fund. He is a frequent contributor to CNBC, thestreet.com, CoinDesk, and other prominent media outlets. He served on the Board and Executive Committee of the National Futures Association, the derivatives self-regulatory organization, where he helped implement the Dodd-Frank rules on the multi-trillion-dollar swaps market and has advised Congress on commodity and bankruptcy laws and regulations.

James has a JD from the Northwestern University School of Law with a securities concentration.

Company Name and Description: JurisTrade has designed a Litigation Asset Marketplace (operated by trading affiliate, Typhon Capital Management) to package and/or securitize litigation finance solutions to law firms, owners of bankruptcy, mass tort, and other litigation claims, and third-party investors looking for exposure to the asset class. JurisTrade offers a new and disruptive solution: it allows law firms, plaintiffs, and/or those with a financial interest in litigation the opportunity to sell or assign an interest in litigation outcomes to qualified investors in a much more efficient manner than is currently available.

Typhon Capital Management is a multi-strategy hedge fund specializing in tactical trading strategies designed to be uncorrelated to traditional markets under most market conditions and have strong negative correlation during periods of stress. Typhon dedicates itself to developing unique strategies that are truly differentiated and perform when almost everything else fails. Typhon uses unique, modular strategies as building blocks to design bespoke products to meet each investor’s individual needs.

Company Website: https://juristrade.com/ & https://typhoncap.com/

Year Founded: JurisTrade – 2023 & Typhon - 2008  

Headquarters:  1691 Michigan Ave Suite 200, Miami Beach, FL 33139

Area of Focus:  JurisTrade – Litigation Finance & Typhon Capital Management – Finance, Alternative Investments

Member Quote: “By adding standardization, liquidity, and transparency to the nascent but growing litigation finance market, we will institutionalize one of the final frontiers in asset management.”

Announcements Commercial Deals

Angeion Group Expands Mass Tort Litigation Management Capabilities Through Merger with Case Works

By Harry Moran and 4 others |

Angeion Group (“Angeion”), the industry leader in end-to-end group litigation support, announced today its merger with Case Works, a premier provider of case data management solutions, including client engagement, medical record retrieval, medical review, and inventory analysis. Neutral, but never passive, this strategic integration of Case Works reinforces Angeion’s forward thinking approach to providing seamless tech-enabled support for complex litigation firms and leading law departments, with efficiency and precision.

The merger of Angeion and Case Works follows majority investments into both companies by private equity firm Renovus Capital Partners (“Renovus”) in 2024. Angeion also acquired bankruptcy administration solutions provider Donlin Recano in late 2024. Renovus worked alongside the companies’ founders and management teams to unify the businesses and deliver a seamless experience for clients and employees throughout the integration.

Case Works has earned a reputation of excellence by ensuring accuracy, completeness, and applicability of case data to support legal requirements. By combining their core capabilities with Angeion’s advanced technology and data-driven approach, this merger further solidifies Angeion’s position as the most trusted partner for navigating complex, high-stakes litigation and settlements.

Effective large-scale litigation and settlements rely on comprehensive, well-organized data and the ability to apply that data effectively within the context of a particular project. Combining Case Works’ proven excellence in capturing and managing critical case information with Angeion Group’s expertise in technology, process efficiency and claims management, provides a more structured, more transparent, and more effective approach to large-scale litigation and settlement management.

“Case Works brings deep expertise and a proven track record of supporting firms with large data and medical record retrieval needs. They are known for their dedication to precision, care and bedside manner,” said Steven Weisbrot, CEO of Angeion Group. “Together, we are raising the bar for what clients can expect—faster, more accurate processes and a commitment to white glove service.”

Angeion Group and Case Works share a common vision: to set the new standard for how large-scale litigation and group settlement support can combine technological efficiency with thoughtful human interaction. Both organizations are driven by a commitment to innovation, precision, and efficiency and are mindful that litigants should expect and receive compassion and respect throughout the group litigation process. This merger will elevate industry standards and ensure that all parties, their council, and the courts benefit from a more streamlined, thoughtful and effective process.

“We’re excited to join forces with Angeion Group,” said Susan Barfield, Founder of Case Works. “Their commitment to innovation and client service aligns perfectly with our own, and we look forward to delivering even greater value to the firms and clients we support.”

“We’re honored to have partnered with these leading companies, building upon our strong track record in tech-enabled legal services,” added Lee Minkoff, Managing Director at Renovus. “We’d also like to thank founders Steve Weisbrot and Susan Barfield for their leadership throughout this game changing merger for the group litigation support industry.”

Angeion remains steadfast in its mission to completely modernize and optimize complex litigation management to the benefit of all stakeholders.

About Case Works

Case Works is the leading provider of tech-enabled litigation support solutions to the country’s premier plaintiff law firms. Based in Austin, Texas, the Company was created with a single mission: To Help Lawyers Help People. Case Works provides a full suite of case management services including claims qualification, intake, medical records retrieval & review, case development, and ongoing plaintiff engagement.

About Angeion Group

Angeion Group is a leading provider of legal notice and settlement administration services, leveraging advanced technology, proven best practices, and expert consulting to manage class actions, mass torts, and collective redress administration. Recognized for its innovation, efficiency, and unwavering client commitment, Angeion Group continues to redefine industry standards.

Commercial Fundraising

Nicola Horlick Pauses Digital Bank Launch to Raise Funds for Motor Finance Claims

By Harry Moran and 4 others |

As LFJ covered last week, the group proceedings being brought against motor finance providers over commissions paid to dealers is attracting a significant amount of interest across the legal funding industry, with the possibility of lucrative settlements to come. 

An article in Financial News features an interview with investment fund manager Nicola Horlick, who discusses her focus on litigation funding for the high-profile motor finance claims in the UK. Horlick, founder and CEO of Money&Co, explained that her company is currently raising funds to lend to law firms that are working on the car finance commission claims. Speaking about the significance of these claims to the wider legal funding industry, Horlick argued that “this is the biggest thing that is likely to happen in litigation funding in the next 15 years.”

The emphasis placed on raising funds for these claims has caused Horlick to pause her plans to launch a digital bank in 2025, with the fund manager explaining that they “don’t have the bandwidth to do the fundraise for that and the bank”. Horlick went on to state that fundraising for the claims “has to be the priority”, and that in the time before these claims begin to reach settlements, “we need to help clients amass as many claims as possible.”