LegalTech Genie AI has raised 拢13.3 million in Series A funding led by Google鈥檚 GV.
The London firm was founded in 2017 by Rafie Faruq and Nitish Mutha to reduce the time spent on tasks that involve language processing, data analysis and decision-making.
It claims to have developed the most advanced artificial intelligence-powered legal drafter in the market and recently secured a grant from Innovate UK.
Its Agentic Legal AI drafts, reviews, edits, red-lines and comments on documents – in the style of a junior lawyer; Legal Editor can import and structure long and complicated Microsoft Word files; while Legal Library is a public database of thousands of toolkits, templates, clauses and guidance notes.聽
GV was joined by Khosla Ventures in the round.
鈥淟awyers are seen by many as the 鈥榥o鈥� people,鈥� said CEO Faruq. 鈥淕enie is the most risk-aware way to draft today, giving lawyers that extra layer of comfort.聽
鈥淭he faster we can mitigate the risk, the faster we can turn around documents 鈥� and Genie鈥檚 AI drafter has a seven year head start to help them do this.鈥�
To date, over 100,000 companies have drafted or reviewed documents on Genie, including 11 FTSE 100 companies, 20 Global200 law firms, several top US banks and two of the 鈥榖ig four鈥� UK supermarket chains.
Contracts have been drafted in 120+ jurisdictions including the UK, California, Texas, India, Australia, South Africa, Singapore, France and Germany.聽
鈥淕enie is changing the way businesses all over the world transact,鈥� said Vidu Shanmugarajah, partner at GV.聽
鈥淏y combining AI with a feature rich editor, Genie allows users to work with contracts in a way that was not possible before. We鈥檙e impressed with Genie AI鈥檚 early customer traction and product-led growth, and are excited to support them on the journey ahead.鈥�
Pockit adds heavyweights to board following Monese acquisition