Legal AI company EvenUp raises $50 million at $325 million valuation

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.

Participants in the latest round included existing investors SignalFire, NFX and DCM, bringing the company’s total funding to $65 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% increase in payouts, in addition to time savings from drafting legal claims, CEO Rami Karabibar told Reuters.