Revenue growth comes easily to AI companies: well-crafted AI products deliver immediate, compelling magic moments that unlock waves of latent demand. The harder challenge is sustaining that revenue growth — making it defensible in the face of commoditization, given competitors can access the same underlying models. That's where EvenUp's experience is especially instructive.

Like many AI companies in early 2023, EvenUp surprised and delighted its customers by quickly applying generative AI to one of personal injury law’s most time-intensive tasks: drafting demand letters. Turning weeks of case manager or attorney work into a near-instant process at a higher quality and lower cost created immense economic value for law firms. Predictably, revenue surged — and competitors quickly followed.

This is where EvenUp's story becomes more educational because -- in the face of copycat competition -- the company took two steps that secured its market leadership position and fueled its next stage of growth:

1. Full capture of the workflow

EvenUp expanded beyond demand letters to launch its Claims Intelligence Platform™, a comprehensive system that enhances every stage of the case lifecycle, from intake to resolution. Today, it proactively drafts, reviews, and strategizes across entire workflows, generating legal documents, surfacing insights that increase case value, and accelerating case timelines.

The results are industry-shaping:

• Over 200,000 cases resolved, securing more than $10 billion in damages for victims.
• Case volume nearly doubled in just six months to 10,000 cases per week.
• Over 2,000 firms, including 20% of the Top 100 U.S. personal injury firms, now rely on EvenUp.

As CEO Rami Karabibar put it: “Legal AI is no longer a side bet; it’s becoming the backbone of personal injury law. Firms are growing revenue without adding staff, while victims secure better results faster. That’s the transformation we’re driving.”

2. Proprietary Models Built on Unmatched Data

In personal injury law, 90% accuracy isn’t good enough. Attorneys need complete confidence that every document can stand up in court. EvenUp delivers that trust through its proprietary Piai™ model, trained on hundreds of thousands of cases and millions of medical records, a dataset competitors can’t replicate. With every case processed, the system grows more precise, reinforcing a data advantage relative to competitors.

The result is higher, more consistent case outcomes. One attorney shared that an initial $50,000 offer became a $1.75 million settlement at mediation using EvenUp’s Case Companion to dismantle opposing arguments in real time.

A Category-Defining Company

The vision that founders Rami, Ray and Saam have shown in proactively expanding their offering has powered revenue growth in the face of increasing competition. Customers are no longer shopping for the best demand-letter engine; they are choosing a strategic partner to help them build their business. Product expansion has increased deal sizes, raised retention, enhanced customer satisfaction, and is powering EvenUp’s next phase of growth. The company’s growth has only accelerated since our initial investment. Its recent $150M Series E round, valuing EvenUp at over $2B, reflects broad market conviction in its vision and leadership.

The specifics of each market are unique, but the principles apply broadly. AI companies gain a foothold by automating a specific, high-value task. But to scale, they quickly need to evolve towards automating full workflows and building proprietary data assets that reshape how customers operate.

EvenUp exemplifies this journey, and we are working with several other companies undergoing similar evolutions. If you're contemplating this journey, please reach out — we'd love to share more.