In the buzzing legal tech space, EvenUp is quickly approaching the milestone of serving 1,000 clients with its pioneering AI-powered tools aimed at streamlining the workload of personal injury lawyers. The startup is leveraging AI to speed up the creation of demand letters, key documents that propose settlement amounts in legal disputes.
Raymond Mieszaniec, COO and co-founder of EvenUprecalls a touching personal story that sparked the initiative. His father, tragically underpaid after a serious car accident due to inadequate legal advice, planted the first seeds for this innovative service. This experience inspired Mieszaniec to join forces with Rami Karabibar, a former Google Waymo engineer, and Saam Mashhad, a defense attorney, to form EvenUp in Silicon Valley. The trio, benefiting from their diverse backgrounds and shared vision, recently raised a significant $35 million Series C investment from Lightspeed Venture Partners.
EvenUp’s system significantly reduces the time lawyers spend preparing cases by automatically generating demand letters that draw on data from more than 250,000 past verdicts and settlements. This not only saves an average of 15 hours per case, but also potentially increases settlement amounts by up to 30%.
Industry Impact and Expansion
The legal community has taken note of EvenUp’s contributions. Michael McCready, who runs a progressive personal injury law firm, praises the system for its efficiency and effectiveness in securing favorable settlements. And Harvard Law School professor David Wilkins recognizes the potential for such technologies to transform the practice of law, although he cautions about the competitive response of insurance companies investing in similar technologies.
EvenUp’s recent growth is part of a larger wave of legal tech innovation. Despite a dip in venture funding in the sector in 2023, this year has seen a solid recovery. Excitement about new applications of AI in legal practice is high, with EvenUp at the forefront of this wave, as evidenced by its inclusion in Forbes’ Next Billion-Dollar Startups list for 2024.
Looking to the future
With its focus on a niche but crucial aspect of legal practice, EvenUp is poised to not only grow but lead the transformation of legal technology. Their approach, simplifying complex and time-consuming tasks with AI, is not only innovative but also deeply connected to the needs of their clients. This alignment with market needs is underscored by their rapid customer acquisition and strong backing from savvy investors who see lasting value in EvenUp’s innovative solutions.
