Legal AI startup EvenUp levels up, raises $150M at $2B valuation

EvenUp, an artificial intelligence provider specializing in legal technology, announced Tuesday a $150 million Series E funding round led by Bessemer Venture Partners that values the company at over $2 billion.

Why this matters: The substantial funding and valuation highlight the increasing demand for AI solutions in the traditionally conservative legal industry.

• Legal technology represents a significant market opportunity as law firms seek to modernize operations and improve client outcomes.
• The $2 billion valuation places EvenUp among the most valuable companies in the legal AI space.
• This investment reflects broader investor confidence in AI applications beyond consumer technology.

What you should know: The funding round represents a major milestone for EvenUp’s growth trajectory in the competitive legal AI market.

• Bessemer Venture Partners led the $150 million Series E investment round.
• The funding values EvenUp at over $2 billion, marking a substantial increase from previous valuations.
• EvenUp provides AI-powered solutions designed to streamline legal processes and improve efficiency for law firms.

The big picture: EvenUp’s funding success comes amid a broader wave of investment in specialized AI applications across professional services.

• Legal AI companies are attracting significant venture capital as firms look to automate routine tasks and enhance decision-making.
• The legal industry’s gradual adoption of AI technology creates opportunities for companies that can demonstrate clear value propositions.
• Bessemer Venture Partners’ leadership in the round signals institutional investor confidence in EvenUp’s market position and growth potential.