Company Research Report: EvenUp Inc
Company Overview
Name: EvenUp Inc
Mission: EvenUp is on a mission to level the playing field in personal injury cases through technology and AI. They empower personal injury lawyers and victims to achieve fair settlements based on the true merit of each case.
Founding: EvenUp was founded in late 2019.
Founders and Key People:
- Rami Karabibar - Chief Executive Officer and Co-founder
- Raymond Mieszaniec - Chief Operations Officer and Co-founder
- Saam Mashhad - Chief of Product & Legal Operations
Headquarters: 2261 Market St #4068, San Francisco, CA 94114
Number of Employees: Over 100+ employees
Revenue: No specific revenue figures available, but revenue has grown over 100% year-over-year.
Company Expertise: EvenUp is known for its Claims Intelligence Platform™, trusted by over 1,000 law firms. They claim over $1.5 billion in damages and have resolved $200 million in missing documents.
Products
EvenUp offers a comprehensive suite of products, mostly driven by their AI model, Piai™:
1. Demands™:
- Description: AI-powered demand packages that maximize settlement value for personal injury cases.
- Key Features: AI-generated demand letters that include robust estimates of damages and detailed case facts.
2. MedChrons™:
- Description: AI-assisted medical chronologies for an organized view of case facts.
- Key Features: Includes treatment timelines, diagnostic highlights, summary of medical visits, and interactive exhibits.
3. Case Preparation™:
- Description: A proactive tool to identify and rectify missing documents early in the case lifecycle.
- Key Features: Detection of missing medical bills and records, improving case preparation efficiency.
4. Negotiation Preparation™:
- Description: Provides a streamlined view of case strengths and weaknesses to ensure thorough negotiations.
- Key Features: Real-time AI-assisted insights to prepare for negotiations without being caught off guard.
5. Executive Analytics™:
- Description: Offers comprehensive business insights and benchmarks for optimizing law firm performance.
- Key Features: AI-driven insights on key performance metrics and comparison against industry benchmarks.
6. Settlement Repository™:
- Description: Database of historical settlement data to inform and optimize settlement negotiations.
- Key Features: Access to a library of settlement data with customizable filters for case analysis.
Recent Developments
- Funding and Valuation: Recently raised $135 million in a Series D round, led by Bain Capital Ventures, with participation from several other investment firms. This funding brings the company's valuation to over $1 billion, positioning it as one of the most funded legal AI companies.
- New Product Launches: EvenUp announced the launch of four new products that are integrated into their Claims Intelligence Platform™ to enhance case preparation, negotiation, analytics, and settlement processes.
- Technological Innovations: Expansion in AI capabilities with Piai™, which is trained on hundreds of thousands of injury cases and millions of medical records, providing a more efficient process for managing personal injury cases.
- Partnerships and Growth: Over 1,000 personal injury law firms use EvenUp's platform, underscoring its pivotal role in legal technology. They are committed to expanding their leadership team and product offerings to better serve their customers.
- Operational Milestones: EvenUp has engineered an AI-document drafting platform that drafts over 1,000 documents per week. It has also expanded its workforce significantly in the U.S. and Canada, reflecting its rapid operational growth.
