Genie AI Lands £13.3M Series A Funding with Key Investments from Google Ventures and Khosla Ventures

UK-based Genie AI, renowned for its AI-driven legal technology, has successfully raised £13.3 million in a Series A funding round.

Backed by esteemed investors such as Google Ventures and Khosla Ventures, this funding elevates Genie AI’s total capital to over £15 million.

Driving Innovation in Legal Technology

Founded in 2017 by Rafie Faruq and Nitish Mutha, Genie AI leverages generative AI to streamline and transform legal processes. Both founders, with backgrounds from University College London and experience collaborating with Google’s DeepMind, recognized the potential of AI to reduce the time and effort required for labor-intensive tasks like language processing and contract drafting. Their vision led to the creation of a cutting-edge AI-powered legal drafting tool, positioning Genie AI at the forefront of the industry.

Core AI Products and Capabilities

Genie AI provides a comprehensive suite of tools to elevate legal document management. Its flagship product, the Agentic Legal AI, functions like a junior lawyer, capable of drafting, reviewing, and annotating documents with precision. The platform also includes a Legal Editor, which allows seamless import of extensive Microsoft Word files for detailed review, and a Legal Library, offering an expansive collection of templates and guidance notes. These resources are widely used and fully integrated with Genie’s AI-driven tools, enhancing efficiency and accessibility in legal workflows.

Widespread Adoption and Impact

Genie AI’s innovative tools are now utilized by over 100,000 companies, including 11 FTSE 100 corporations and leading global law firms, highlighting strong adoption across diverse industries. The software enables rapid generation of customized legal agreements, covering more than 120 jurisdictions, and dramatically cuts down the time required for legal document preparation. By streamlining these processes, Genie AI is helping legal professionals save an estimated 260 hours and £72,800 each year, translating to significant time and cost efficiencies.

Investment and Strategic Growth

The financial injection from Google Ventures and Khosla Ventures positions Genie AI for aggressive growth and innovation in the legal tech industry. This capital will accelerate the enhancement of Genie AI’s platform, prioritizing innovation and customer satisfaction, thereby strengthening its market position.

Client Benefits and Professional Use

With Genie AI, legal professionals experience a significant decrease in workload, enabling them to complete document drafting and review with remarkable speed and precision. The platform allows lawyers to prepare 80% of a document in just five minutes, making it a game-changer in reducing stress and helping prevent burnout. By handling routine drafting tasks, Genie AI frees up lawyers to concentrate on the strategic aspects of their practice, enhancing both productivity and job satisfaction.