Eve’s Series B: Another Milestone as Eve Rapidly Transforms Legal Firms with AI

When we first met Jay Madheswaran and his co-founders, Matt Noe and David Zeng, back in 2020, they were tackling something that felt both obvious and audacious: using AI to transform the way businesses handle mountains of documents that define their daily work. Nowhere is this more evident than in the legal profession, where so much work is laid out in documents.

Jay brought a rare combination of technical depth, from his time at Rubrik, and venture intuition for markets and long-term opportunities from his time at Lightspeed. And with David and Matt being star early engineers from Rubrik, the entire founding team had not only worked together, but also understood the formative stages of company building and how to solve deeply technical challenges in a durable way in industries resistant to change.

We led Eve’s Seed round, doubled down in their $47M Series A, and today, we’re proud to back Eve once again as they raise their $103M Series B.

Law Firms Need Systems of Action, Not Systems of Record!

We believe legal tech hasn’t lagged because lawyers are afraid of change; it’s been stuck because most existing solutions fundamentally misunderstand how legal work actually happens. These legacy vendors create “systems of record” when what employment and personal injury attorneys desperately needed were “systems of action”.

This is Eve’s core insight: don’t just digitize legal workflows — reimagine the entire stack, with AI as the foundation. And, this is what convinced us from day one: the team’s unrivaled clarity on the job of legal professionals, helping them turn unstructured information into informed strategy that delivers justice for plaintiffs.

Built for the Realities of Legal Work

Today, Eve’s platform supports the full case lifecycle, from first intake through litigation:

• Intake and Evaluation: Identifies high-potential cases and generates full case overviews from key documents and case facts, resulting in 15 hours+ saved per week.
• Pre-Litigation: Drafts demand letters and other pre-litigation documents in the firm’s tone and style.
• Litigation: Generates detailed and relevant discovery requests, responds to propounded discovery, analyzes depositions, and responds to motions in minutes.

This past year, Eve has also added a number of compelling products to its growing solutions portfolio:

• Eve AI Intake Specialist: Voice agents handle calls 24/7, with real-time transcription and intelligent case scoring. Qualified matters sync directly into your CMS, complete with notes and next actions, so staff can focus on clients, rather than manual data entry.
• Reasoning Mode: Industry-first Reasoning Mode performs senior-level plaintiff attorney work by methodically reviewing records, comparing statements, and checking consistency across multiple documents. It explains its reasoning step-by-step, helping attorneys move faster on strategy, drafting, and case evaluation.

Since its Series A, Eve has grown to add over 450 customers, including elite law firms such as Mike Morse Law Firm, James Scott Farrin, and Atlanta Personal Injury Law Group. 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.

Customer testimonials consistently highlight productivity increases of 2.5-5x, allowing firms to take on more cases and secures justice for injured individuals, employees wronged by corporations, and communities up against overwhelming odds without compromising quality.

Massive Opportunity for Eve

Legal work is high-stakes, data-heavy, and inherently language and documentation-intensive. We believe that’s the perfect use case for the kind of trustworthy, highly reliable AI platform Eve Legal has built. Combined with the focus on developing a deep understanding of their clients’ workflows and reimagining those for an AI native world, Eve is helping their customers evolve rapidly and expand.

These industry-wide transformations are the most exciting part of the AI cycle—we are privileged to have a front row seat as Eve Legal works to transform the legal industry! If this sounds exciting, Eve is scaling incredibly fast and hiring—the team would love to hear from you!

The content here should not be viewed as investment advice, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any securities. The views expressed here are those of the individual Lightspeed Management Company, L.L.C. (“Lightspeed”) personnel and are not the views of Lightspeed or its affiliates; other market participants could take different views.

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