Robert Ambrogi Blog
Eve, an AI platform for plaintiffs’ law firms, has raised $103 million in Series B funding at over a $1 billion valuation, it said today. The round was led by Spark Capital, with participation from existing investors Andreessen Horowitz, Lightspeed Venture Partners, and Menlo Ventures.
This follows the company Series A raise of $47 million last January. Since then, the company says, it has experienced significant growth, adding more than 350 new firms as customers, and bringing its total customer base to more than 450 firms.
The company says the platform now processes more than 200,000 legal cases annually and has helped firms collectively recover over $3.5 billion in settlements and judgments.
In an interview for my LawNext podcast last March, Eve’s cofounder and CEO Jay Madheswaran tole me that Eve’s mission was to transform traditional plaintiffs’ firms into what he called “AI-native law firms.”
Eve sought to do this, he said, with technology that does not just automate tasks but fundamentally changes how legal services are delivered, in part by encoding firms’ unique knowledge and processes into intelligent systems.
In announcing this latest investment, Madheswaran, a former engineer at Facebook and venture capitalist at Lightspeed Venture Partners, said that Eve aims to help plaintiff firms overcome heavy workloads and growing case backlogs so they can secure justice for their injured and wronged clients.
“This is why we built Eve,” he said in a statement released by the company. “Plaintiff firms fight for fairness against corporations with endless resources. This is no longer about keeping pace; it’s about seizing the upper hand. Firms must become AI-native, reimagining their entire practice to outmaneuver the competition and deliver transformative wins for their clients. With this funding, we’ll arm them to do just that.”
Eve’s platform is designed to assist PI firms through every phase of a case, from intake and evaluation, through pre-litigation and discovery. The company describes it as “an intelligent partner” that can help attorneys optimize their productivity.
“To build the most advanced legal AI, we assembled an unparalleled team of AI engineers and legal experts,” said Madheswaran. “We gave them a singular mission: build a platform architected for the breakneck speed of modern AI.”
“Eve represents exactly the kind of company we look for — one that’s fundamentally transforming how work gets done in a massive, traditional industry,” said James Kuklinski, general partner at Spark Capital.
“The legal industry has been ripe for this level of innovation, and Eve’s incredible traction serving hundreds of firms in less than two years since launching proves that plaintiff attorneys are ready to embrace AI-native workflows.”