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

By Harry Moran |
October 8, 2024

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

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.

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Harry Moran

Harry Moran

Commercial

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Commercial

Omni Bridgeway Unveils Pro Bono Recycling Fund for Migrant Domestic Workers and Backs iyO in High-Profile IP Suit Against OpenAI, Altman, and Jony Ive

By John Freund |

Omni Bridgeway has moved on two distinct fronts in recent weeks, pairing a first-of-its-kind pro bono disbursement facility for migrant domestic workers in Asia with a high-profile commercial commitment to fund iyO Inc.'s intellectual property and trade secret suit against OpenAI, Sam Altman, and Sir Jony Ive. Taken together, the announcements showcase the breadth of the ASX-listed funder's pipeline — from access-to-justice initiatives at one end to flagship technology disputes at the other.

According to a joint Omni Bridgeway announcement, the funder has partnered with Hong Kong–based NGO Justice Without Borders to launch a "recycling" disbursement fund that covers court fees, expert reports, translation services, and court-ordered security for costs deposits in cross-border employment claims brought by migrant domestic workers across Hong Kong, Singapore, Indonesia, and other jurisdictions where JWB operates. The structure is designed so that recoveries are routed back into the facility, allowing each dollar of capital to support multiple claims over time. JWB executive director Celine Chan framed the initiative around the principle that "justice should not stop at a border or depend on ability to afford court fees," while Omni Bridgeway's Mitchell Dearness said the facility "fills a critical gap by covering costs that pro bono representation alone cannot address." The fund's headline commitment was not disclosed.

On the commercial side, according to a PR Newswire announcement from iyO, Omni Bridgeway is now backing iyO's federal litigation against OpenAI, Sam Altman, Jony Ive, io Products Inc., and former io co-founder Tang Yew Tan in the U.S. District Court for the Northern District of California (Case No. 25-cv-04861-TLT). iyO, a Google X spinout developing screenless, voice-controlled ear-worn devices, alleges trademark infringement of its federally registered "IYO" mark and trade secret misappropriation under both the California Uniform Trade Secrets Act and the federal Defend Trade Secrets Act over OpenAI's use of the "io" brand and the conduct of the io team after its acquisition. U.S. District Judge Trina L. Thompson granted a preliminary injunction in April 2026 finding iyO "likely to succeed on the merits of its trademark claim," after the Ninth Circuit affirmed an earlier temporary restraining order in December 2025. Trade-secret claims were added in March 2026.

For Omni Bridgeway, the two announcements land at a moment when public-market funders are working to demonstrate both portfolio breadth and capital efficiency to investors and clients. The recycling fund extends the firm's brand into access-to-justice territory long associated with NGOs and pro bono law firms, while the iyO matter places it directly into the most closely watched generative-AI dispute on the docket — a posture that allows Omni Bridgeway to argue, simultaneously, that litigation finance can democratize cross-border employment claims and underwrite the bet-the-product cases that define the next era of technology competition.

Commercial

Litigation Capital Management Extends Northleaf Covenant Waiver to June 30, Flags Material Case Write-Downs

By John Freund |

AIM-listed litigation funder Litigation Capital Management has secured a one-month extension of its debt covenant waiver from senior lender Northleaf to June 30, 2026, while disclosing negative developments in two case investments and warning that material write-downs will be reflected in upcoming financial statements.

According to a Litigation Capital Management regulatory announcement, the waiver continues on existing terms, with interest on the Northleaf facility remaining elevated by 2.00 percentage points per annum and no additional waiver fee charged. The two affected investments account for approximately A$9 million in invested capital between them; LCM did not identify the specific funded matters but said the negative outcomes will require material write-downs in its forthcoming results.

The funder added that the strategic review initiated in September 2025 remains ongoing and that the waiver extension reflects Northleaf's "ongoing support while LCM works towards a long-term resolution of its capital position." LCM's London-listed shares fell roughly 13% on the news.

The update is the latest in a sequence of capital-stack adjustments and adverse case developments that have weighed on LCM since late 2025, and reinforces the operating reality that publicly traded funders face: portfolio-level returns can be overwhelmed at the equity line by a small number of high-conviction matters that resolve adversely. With the waiver now tied to a June 30 deadline, the next four weeks are likely to determine both the contours of the strategic review and the terms of any new lender arrangement.

Commercial

Trade Press Revisits How Litigation Funding Became Entangled in U.S. Meat Industry Antitrust Battles

By John Freund |

The U.S. meat industry trade press has stepped back to examine how third-party litigation funding became central to the multi-year wave of antitrust cases against Tyson Foods, Pilgrim's Pride, and other major packers, with Burford Capital's funding of Sysco's protein price-fixing claims serving as the defining storyline.

As reported by Meatingplace, Sysco and Burford entered a Capital Provision Agreement under which the funder invested approximately $140 million from 2019 onward to back Sysco's direct-purchaser antitrust cases in beef, pork, chicken, and turkey. The relationship later fractured when Sysco moved to settle several matters at values Burford regarded as far below their merit-driven worth, leading to arbitration, the assignment of Sysco's remaining claims to Burford-affiliated vehicle Carina Ventures, and a high-profile Seventh Circuit ruling earlier this year that allowed Burford to challenge a $50 million Sysco settlement in the broiler chicken docket.

The feature traces how the dispute reshaped procurement-side antitrust strategy across the protein sector, with Sysco at one point accusing Burford in court filings of turning the federal docket into a "casino" in which the funder could veto rational settlement decisions made by the underlying claimant.

For litigation funders, the retrospective is notable less for new disclosures than for the audience it reaches — a trade publication whose readership is the corporate procurement and operations community now thinking about whether to bring, settle, or finance their own antitrust recoveries against the same packer defendants in the years ahead.