Like many close relationships, our partnership with EvenUp developed over time. We first met Rami Karabibar in a drafty coffee shop in San Francisco in December 2019, when the company was just a few months old. Over the next few years, we kept in touch for several reasons. Sarah had grown up watching her father, an attorney, spend considerable personal time on pro bono cases fighting for legal justice. Aaref had successfully built a legal e-discovery business, Clearwell, before becoming an investor. Both intuitively understood the unintentional unfairness of the legal system, where individuals often face overwhelming odds when making claims against powerful groups like large corporations.

More than anything, it was Rami’s passion for “evening up” the playing field for those involved in personal injury cases that kept us engaged over years of coffees, breakfasts and walks. Equally impressive was the team’s execution: every time he shared an update, EvenUp had exceeded the goals Rami had previously laid out. As the company’s progress accelerated, Rami, and his co-founders Raymond Mieszaniec and Saam Mashhad looked for new partners to support the company in the next phase of its development. Within days of starting conversations about the growth round, we wanted to join the team and be part of what they are building.

Today we are thrilled to announce that we are investing in EvenUp’s $50.5 million Series B alongside our friends at Bessemer Venture Partners, SignalFire and NFX.

EvenUp is pioneering a new category of software within the broader market of legal technology (or “legaltech” as it’s affectionately known). By skillfully combining a deep understanding of legal workflows with generative AI, it fully automates one of the core outputs of personal injury attorneys — namely, the creation of demand letters. Previously, it took paralegals and associates hours of work to painstakingly organize, extract and summarize information from documents, medical records, police reports and invoices. Now, with EvenUp, attorneys can achieve a 10x better result in terms of quality, speed, and cost. The product is a clear, early example of generative AI, combined with deep domain expertise.

We believe this is just the beginning for EvenUp. Today, the company is releasing an AI legal assistant called Litty, which customers can use for efficient data summaries from case records and automatic generation of legal records. And to make the product experience more seamless, it’s also launching a direct integration with Litify, a legal operating platform serving personal injury lawyers. As a guide for settlement negotiations, EvenUp is expanding its proprietary database of precedent outcomes and strengthening its recommendations about the likely settlement value of a case.

Over time, we expect the company to extend the services offered to its customer base, including through embedded financial services, and explore broader applications of its technology in new verticals with similar workflows.

We could not be more excited to support the next phase of EvenUp’s growth, and are honored to be part of its mission.