EvenUp reaches $150 million in revenue by targeting small law firms

Moving beyond Big Law

While many prominent legal AI companies are currently competing for the attention of 'Big Law' firms, EvenUp is finding success in a different niche. The company focuses on plaintiff-side law firms, which represent individuals seeking compensation in legal disputes. By targeting these smaller, high-volume practices, EvenUp is carving out a significant portion of the legal tech market.

According to a report by Business Insider, the company has reached $150 million in recurring revenue under contract. This milestone demonstrates that there is a massive opportunity for AI tools outside of the most prestigious law firms in the country. The company's growth suggests that the democratization of AI is reaching the backbone of the legal industry.

EvenUp's strategy relies on understanding the specific business models of its clients. Unlike large firms that often bill by the hour, the personal injury firms EvenUp serves typically work on a contingency basis. This means they only get paid if they win a settlement or court judgment for their clients, creating a unique set of incentives for using technology.

The efficiency incentive

For traditional law firms that charge clients by the hour, adopting AI can be a complicated decision. If a software tool makes a lawyer significantly more efficient, it could potentially reduce the number of billable hours a firm can charge. This creates a dilemma where the cost savings of the technology might conflict with the firm's primary revenue stream.

Personal injury firms face a different set of pressures and opportunities. Because these firms take a percentage of the final payout, their primary goal is to move cases through the system as quickly as possible. The faster they can reach a settlement or a verdict, the sooner they can collect their fees and move on to the next client.

EvenUp's AI tools are designed to capitalize on this need for speed. By automating repetitive tasks, the software allows these firms to handle a higher volume of cases without necessarily increasing their headcount. This alignment of technology and business goals is a core reason why the company is seeing such rapid adoption in this specific sector.

From one trick to full service

EvenUp did not start as a comprehensive case management suite. For much of its early history, the company was primarily known for automating demand letters. These are the detailed documents that personal injury lawyers send to insurance companies to argue for a financial settlement before a lawsuit even begins.

While demand letters are a valuable service, they are also relatively easy for competitors to copy. To build a more defensible business, EvenUp spent the last 18 months expanding its software to help lawyers manage cases from start to finish. This expansion has significantly changed the company's revenue structure and its value proposition to clients.

In early 2025, demand letters accounted for more than 90% of the company's revenue. Today, that figure has dropped to less than a quarter of the business as the company successfully sells its broader suite of tools. This shift indicates that the company is successfully moving from a single-point solution to a comprehensive platform for legal workflows.

Scaling the sales engine

EvenUp currently serves more than 2,000 personal injury firms and supports roughly 20,000 cases every week. The company operates on a model where law firms pay a fixed price per case and sign annual contracts for a specific volume of work. This provides the company with predictable, recurring revenue as it scales its operations.

To accelerate this growth, the company recently hired Stevie Case as the president of field operations. She will lead the sales, marketing, and customer service teams to win over new firms and sell more products to the ones they already have. The goal is to move from landing a single customer with one product to embedding EvenUp into every part of a firm's business.

The company's leadership believes they have only scratched the surface of this opportunity. Rami Karabibar, the cofounder and CEO, noted that most law firms currently only use one of the company's products. By expanding their footprint within each firm, EvenUp aims to become an indispensable part of the daily legal workflow for thousands of small practices.

The competitive landscape

EvenUp is not the only player looking to capture the plaintiff-side legal market. Other startups like Eve and Supio are also gaining ground. Eve, which was founded a year after EvenUp, now serves nearly 2,000 firms, while Supio recently reported more than doubling its customer base in the first half of this year.

The competition in this space is intensifying as more capital flows into legal technology. EvenUp's investors appear to be doubling down on the company's success. Last year, the company raised $150 million in a Series E round led by Bessemer Venture Partners to provide the financial firepower needed for this expansion.

Karabibar highlighted the scale of the company's remaining resources, stating, "We haven't touched a dollar of that yet." With significant capital and a proven model in the small law sector, EvenUp is well-positioned to compete against rivals as the market for plaintiff-side legal tech continues to develop.