June 27, 2023
Personal injury victims and their legal representatives may see an increase in transparency, expediency and compensation thanks to EvenUp. a startup that recently closed a $50.5 million Series B round, bringing its total fundraising to $65 million and the company’s valuation to $325 million.
The company has developed a generative AI program that canvasses millions of records, turning documents and case files into demand packages for personal injury lawyers.
Given the large percentage of personal injury claims settled out of court and the complexity of creating demand packages for clients, EvenUp hopes to take the guesswork out of settlement proposals while decreasing billing times and error margins in law firms’ finished products. Its website boasts $500 million in claimed damages thus far, and $75 million in missing documents flagged.
Along with its current AI offerings for demand packages, EvenUp launched Litty, a “personal injury legal assistant” that summarizes notes into “clear and coherent medical summaries” for use in case summaries and medical histories.
The EvenUp team is led by two Canadian university graduates: COO Ray Mieszaniec (Simon Fraser University) and CEO Rami Karabibar (McGill), who are joined by chief of product and legal operations Saam Mashhad.
However, EvenUp is not the only AI-based personal injury company on the market; Edmonton’s very own PainWorth raised $2.1 million in seed financing last year. Given the hot-button debates surrounding the use of AI in the legal industry, the growth of companies like EvenUp and PainWorth will certainly have much to contribute to the conversation.
Joeley Pulver