EvenUp Hits $150M Revenue Selling AI to Small Law, Not Big Law

EvenUp has grown to $150 million in recurring revenue under contract — without selling a single seat to Big Law. The seven-year-old startup sells AI software to plaintiff-side personal injury firms, a segment its CEO argues holds some of legal AI's largest opportunities.

Cofounder and CEO Rami Karabibar disclosed the milestone to Business Insider. While rivals Harvey and Legora fight over white-shoe firms, EvenUp built its business in what the industry calls Small Law. That segment's economics favor AI adoption: hourly-billing firms risk revenue loss when software makes lawyers faster, but personal injury firms work on contingency. The faster cases move, the sooner the firm gets paid.

What changed in EvenUp's product mix?

For most of its life, EvenUp was a one-product company. It automated demand letters — the detailed documents injury lawyers send insurers to argue for settlements. The business is valuable but easy to imitate.

Over the past 18 months, EvenUp expanded into software that manages cases from start to finish. Its newest product goes further, pairing AI agents with human case managers to handle much of the pre-lawsuit work.

The numbers show how fast the shift happened. In early 2025, demand letters accounted for more than 90% of revenue, Karabibar said. Today that figure is below a quarter, with revenue spread more evenly across products.

EvenUp now serves more than 2,000 personal injury firms and supports 20,000 cases each week. Pricing is fixed per case, on annual contracts that commit firms to a set case volume.

How does the company plan to grow further?

Most customers still use only one EvenUp product, according to Karabibar. The growth thesis is land-and-expand: win a firm with one offering, then sell into other parts of its workflow.

To execute that, EvenUp hired Stevie Case, former chief revenue officer of compliance-automation vendor Vanta, as president of field operations. She oversees sales, marketing, and customer service — the full go-to-market function — as the company pushes both new logos and expansion revenue.

Who is EvenUp up against?

The plaintiff-side market is getting crowded fast. Eve, founded a year after EvenUp, also targets injury firms and says it serves nearly 2,000 of them, up from more than 1,400 in June. That puts Eve's customer count roughly on par with EvenUp's.

Supio is gaining ground too. The startup said it more than doubled its customer base in the first half of this year, though it declined to disclose the absolute number. The market for plaintiff-side legal tech remains up for grabs.

EvenUp's investors appear comfortable with the fight. The company raised $150 million in a Series E round led by existing investor Bessemer Venture Partners last year, and Karabibar says the balance sheet is untouched.

"We haven't touched a dollar of that yet," he said.

What does this change for buyers and competitors? Personal injury firms now have at least three well-funded vendors bidding for their per-case spend, which pressures pricing and product depth even as EvenUp's diversification raises the bar for what a legal AI platform must cover. With Case leading go-to-market and a full Series E unspent, EvenUp enters its next phase positioned to defend a lead its rivals are closing at record speed.