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About
EvenUp was founded in 2020 — the year co-founder Saam Mashhad dates it from on stage; press accounts and Crunchbase say late 2019 — by three Canadian expats — Rami Karabibar (CEO), Raymond Mieszaniec (COO), and Saam Mashhad — to fix an inefficient market: personal injury victims recovering far less than their claims are worth. Mashhad, a litigator called to the Ontario and Quebec bars, left Norton Rose Fulbright after pitching the idea to Karabibar for four years; the team ran its first deals manually before raising a seed round. The flagship product writes the demand package — the letter a firm sends an insurer to claim a settlement amount — with AI generation plus human quality review, and the company has since expanded into a Claims Intelligence Platform powered by its proprietary Piai model, trained on hundreds of thousands of injury cases and millions of medical records. From San Francisco, EvenUp grew from zero to roughly 500 employees by mid-2025, became a unicorn with a $135M Bain Capital Ventures-led Series D in October 2024, and doubled past a $2B valuation with a Bessemer-led $150M Series E a year later, bringing total funding to $385M.
Backers
$385M raised across four rounds, each preempted by investors. Bessemer Venture Partners led the Series E; Bain Capital Ventures led the Series D; other investors include Lightspeed Venture Partners, SignalFire, B Capital, Premji Invest, REV (the venture arm of RELX, owner of LexisNexis), Adams Street, HarbourVest, and Broadlight Capital.
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Quick answers
What does EvenUp do?
EvenUp builds workflow automation and insights for personal injury attorneys in the United States, helping firms reach higher settlement amounts faster. Its flagship product generates the demand package — the letter sent to an insurance company to claim an amount — with AI plus human quality review, now joined by a self-serve AI docs suite and a Claims Intelligence Platform built on its proprietary Piai model.
Who founded EvenUp, and what is the Canadian connection?
Three Canadian expats founded EvenUp in 2020 (press accounts say late 2019): Rami Karabibar (CEO, a McGill commerce and engineering grad), Raymond Mieszaniec (COO), and Saam Mashhad. Mashhad passed the Ontario and Quebec bars and practiced litigation at Norton Rose Fulbright before leaving to start the company — a story he told on the TechTO stage in Toronto in May 2025.
Is EvenUp a unicorn?
Yes — twice over. EvenUp crossed a $1B valuation with its $135M Series D led by Bain Capital Ventures in October 2024, then passed $2B with a $150M Series E led by Bessemer Venture Partners in October 2025, bringing total funding to $385M.