Legal AI company EvenUp has raised an additional $50.5 million in Series B funding from new investors including Bessemer Venture Partners and Bain Capital Ventures, the San Francisco-based company said Thursday, valuing the company at $325 million.
EvenUp provides a product to personal injury law firms that automates the workflow for demand letters, using generative AI and a proprietary legal dataset. Its customers have seen a 30 per cent increase in payouts, in addition to time savings from drafting legal claims, CEO Rami Karabibar told Reuters.
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