Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire and B Capital Group also participated in the round, which brought the company’s total fundraising to $235 million, EvenUp said.
Despite subdued trading activity in other private markets, AI startups have attracted venture capital backers who are betting on a surge in demand for companies that help improve productivity.
More than 1,000 law firms use EvenUp, the company said. Is claims intelligence platformwhich provides information and help with document drafting, is powered by an artificial intelligence model trained on personal injury cases, medical records and in-house legal expertise.
“Many law firms are stretched to the limit, so they need technology to scale their best employees. This is especially critical in personal injury law firms, where lawyers typically handle more than 100 clients a year,” said Rami Karabibar, co-founder and CEO of EvenUp.
The company’s revenue has doubled year over year. Its workforce in the United States and Canada has also more than doubled in the past 12 months, it said.
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It also launched four new products on Tuesday to help clients identify missing documents when preparing their case and to provide data and analysis. One of its new products is an artificial intelligence assistant that will provide real-time answers to complex questions.
EvenUp will use the funds to hire engineers, product professionals and data scientists. It also plans to double its marketing team in the next 18 months and hire more executives to bolster its leadership team, CEO Karabibar said.
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