Genie AI raises $17.3M in Series A funding for its AI legal assistant

Genie AI, a UK-based legal technology startup, recently raised $17.8 million in Series A funding, led by Google Ventures! This investment enables Genie AI to advance its flagship product, Agentic Legal AI, which uses machine learning to draft and review legal documents. The platform helps automate tasks that typically require significant manual effort, such as contract drafting, risk analysis, and negotiation support, aiming to streamline legal processes and reduce costs.

Founded by Rafie Faruq and Nitish Mutha, Genie AI was designed to address the high demand for efficient legal services by law firms and enterprises alike. The startup’s approach is distinct, offering a proprietary AI editor that allows legal professionals to draft and customise agreements in just minutes. This is supported by Genie AI’s extensive library of templates, covering a wide range of legal needs across jurisdictions, which clients can use to handle documents like contracts, policies, and other formal agreements with ease. By automating repetitive tasks, Genie AI claims to save lawyers hours per document, providing greater efficiency while maintaining accuracy.

This funding round not only allows for technological improvements but also fuels Genie AI’s expansion, especially in the U.S. market, a key area of focus for the company as it seeks to grow its user base and refine its platform to serve even larger organisations. Genie AI’s client base already includes over 100,000 companies, including prominent firms from the FTSE 100 and Global 200. By introducing its Agentic AI technology, Genie AI aims to add value by automating workflows that were traditionally handled manually. The agentic AI approach differentiates Genie from typical AI models, as it emphasises autonomy in completing tasks without continuous input, a feature gaining traction across sectors.

The platform’s user-friendly design and efficiency in legal document processing have contributed to its popularity, with users reporting significant time and cost savings. Genie AI estimates that its service allows each user to save an average of five hours per week, translating to substantial annual savings on legal fees. The platform also leverages a freemium model, making it accessible to a range of clients, from small businesses to large enterprises, and supporting adoption in diverse industry settings. Clients appreciate that Genie AI is adaptable, with features that integrate smoothly into existing workflows, enhancing contract management, document review, and compliance processes.

This funding is part of a broader interest in legal tech among investors, as AI increasingly shapes legal industry practices. Investors like Google Ventures and Khosla Ventures are enthusiastic about the platform’s capacity to reduce the dependence on the billable hour model in law, moving towards efficiency-driven value. “AI is already rapidly transforming industries and legal is one of the areas that will benefit from this technology,” said Kanu Gulati, Partner at Khosla Ventures. “Genie AI’s technology, progress to date and vision going forward made this a compelling investment for us.”

Looking ahead, Genie AI plans to further develop its AI-driven capabilities and roll out additional features to maintain its competitive edge. These include expanding the legal-specific workflows that Genie AI provides and enhancing its editor’s AI capabilities to go beyond document generation, supporting tasks such as compliance and regulatory adherence in real time. This vision for continued growth also aligns with Genie’s goal of reducing legal friction and promoting economic efficiency on a global scale.

With strong investor backing and a clear roadmap, Genie AI is well-positioned to continue revolutionising the legal tech industry, offering solutions that align with the needs of today’s legal professionals and the evolving demands of a digitally-driven business environment. This funding round underscores both the potential of legal AI technology and Genie AI’s role in leading this transformation.