EvenUp Reaches $150M Recurring Revenue as Legal-AI Competition Intensifies

EvenUp, a legal technology company focused on plaintiff-side law firms, has reached $150 million in recurring revenue under contract, according to cofounder and chief executive Rami Karabibar. The milestone positions the seven-year-old startup as a significant player in legal artificial intelligence beyond the large corporate law firms that have dominated much of the industry’s recent AI investment. EvenUp’s growth reflects the distinct economics of personal injury litigation. Unlike traditional law firms that bill clients by the hour, plaintiff-side firms typically work on contingency, taking a percentage of settlements or awards. This creates a direct incentive for software that accelerates case preparation, settlement negotiations, and client recovery. AI tools that improve efficiency can shorten case timelines, allowing firms to realize revenue more quickly rather than reducing billable hours. The company initially built its business around automating demand letters, the detailed documents personal injury lawyers send to insurers to seek financial settlements. While demand letters remained valuable, EvenUp has expanded into a broader suite of AI-driven case management tools. Its newest offerings combine artificial intelligence agents with human case managers to handle much of the work involved before a lawsuit is filed. This shift has diversified revenue significantly. In early 2025, demand letters represented more than 90 percent of EvenUp’s revenue; today they account for less than 25 percent. EvenUp now supports more than 2,000 personal injury firms and handles approximately 20,000 cases each week. Clients pay a fixed price per case under annual contracts that commit to volume levels. Karabibar said most firms still use only part of EvenUp’s product portfolio, giving the company room to cross-sell additional services as adoption deepens. To support that expansion, EvenUp has hired Stevie Case, former chief revenue officer at Vanta, as president of field operations. Case will lead sales, marketing, and customer service as the company aims to attract new firms and increase product usage within its existing customer base. Competition is intensifying, however. Eve, founded a year after EvenUp, now serves nearly 2,000 firms, up from more than 1,400 in June. Supio is also expanding, with the startup saying it more than doubled its customer base in the first half of the year, though it did not disclose specific numbers. The market for plaintiff-side legal AI remains fragmented and open to disruption. EvenUp appears prepared for the contest. The company closed a $150 million Series E round led by existing investor Bessemer Venture Partners last year. Karabibar said the firm has not yet deployed capital from that round, leaving it with substantial financial resources as it seeks to strengthen its position in a rapidly growing legal technology sector.