LegalTech Genie AI has raised £13.3 million in Series A funding led by Google’s 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.
GV was joined by Khosla Ventures in the round.
“Lawyers are seen by many as the ‘no’ people,” said CEO Faruq. “Genie is the most risk-aware way to draft today, giving lawyers that extra layer of comfort.
“The faster we can mitigate the risk, the faster we can turn around documents – and Genie’s AI drafter has a seven year head start to help them do this.”
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 ‘big four’ UK supermarket chains.
Contracts have been drafted in 120+ jurisdictions including the UK, California, Texas, India, Australia, South Africa, Singapore, France and Germany.
“Genie is changing the way businesses all over the world transact,” said Vidu Shanmugarajah, partner at GV.
“By combining AI with a feature rich editor, Genie allows users to work with contracts in a way that was not possible before. We’re impressed with Genie AI’s early customer traction and product-led growth, and are excited to support them on the journey ahead.”
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