Legal AI Startup EvenUp In Talks to Raise at $1 Billion Valuation

Startups that can cut down on costly paperwork for lawyers using generative artificial intelligence continue to draw investor dollars, despite the high costs of developing that software and the difficulties the startups face in acquiring exclusive legal data to train their models.

The latest: San Francisco-based EvenUp, which develops AI software to help personal injury lawyers compile claims using medical documents and case files, is in talks to raise a new round of funding at a $1 billion valuation, according to a person briefed on the round. It’s not clear whether that price includes the new investment.

The company has spoken to current investor Bain Capital Ventures about leading the round, the person said. The round, if completed, would double the startup’s valuation from its last, Series C investment led by Lightspeed Venture Partners. It would be EvenUp’s third funding round in a little over a year. It’s already raised about $100 million in funding. (The founders didn’t have anything to say when we reached out for comment.)