EvenUp is set to raise an undisclosed amount from its Series B round at a $350M valuation.
The firm's valuation at the current fundraising is nearly four times
greater than its last valuation of $80M from 18 months ago. Bessemer
Venture Partners is leading the round.
- The
firm decided to take the funding from Bessemer with participation from
Bain Capital Ventures, despite getting offers valuing the company at
over $400M from other interested investors.
- Other
investors that were reportedly looking at leading the fundraising
included Lightspeed Venture Partners, Insight Partners, Sapphire
Ventures, and Bain Capital.
- EvenUp
provides AI-powered software for personal injury plaintiffs and
attorneys. Its software helps evaluate claims, review medical documents,
produce medical summaries, and calculate damage estimates.
- EvenUp reported $8.9M in annual recurring revenue in Q1, representing a 5x YoY increase from $1.7M in the same period last year.
