Genie AI, a leading AI-powered legal drafting tool, has secured €16 million in Series A funding to further its mission of reducing legal friction and boosting economic efficiency. The round was led by GV (Google Ventures), with participation from Khosla Ventures, early investors in OpenAI, bringing Genie AI’s total funding to over €18 million. The company had previously secured one of the UK government’s largest startup grants and seed funding from Connect Ventures.
Genie AI stands out from other large language models (LLMs) by generating fully personalized, professionally formatted, and comprehensive contracts—some exceeding 50 pages—across all major global jurisdictions in minutes. This innovation has drastically cut down the time for legal contract drafting, a task that traditionally took weeks. Additionally, Genie AI offers an open-source library of templates and allows users to upload their own documents for automated review.
A key feature of Genie AI is its risk assessment tool, which detects potential issues in contracts, explains them, and suggests revisions. The platform also focuses on data privacy, security, and legal accuracy, working closely with leading universities to ensure the highest standards. Lawyers have rated Genie AI’s legal accuracy at an impressive 94%.
The company’s rapid growth reflects the broader expansion of the AI legal software market, which is projected to reach $5 billion by 2030. To date, more than 100,000 companies have used Genie AI to draft or review documents, including 11 FTSE100 companies, 20 Global200 law firms, top US banks, and two of the UK’s “big four” supermarket chains. Contracts have been drafted in over 120 jurisdictions, spanning the UK, the US, India, Australia, Singapore, France, and Germany.
Genie AI was co-founded by Rafie Faruq and Nitish Mutha, who both specialized in generative AI while studying at University College London (UCL) under researchers from Google DeepMind. Their goal was to harness AI’s potential to streamline contract drafting—a task involving complex language processing, data analysis, and decision-making.
On average, Genie AI allows lawyers to complete 80% of a document in just five minutes, saving up to five hours per week, which translates to around £72,800 per lawyer annually. This efficiency helps legal professionals focus on value-added tasks rather than being seen as bottlenecks, which is particularly important in an industry where burnout is common.
“Lawyers are often viewed as the ‘no’ people,” said Rafie Faruq, CEO and Co-founder of Genie AI. “Genie AI provides a safer, faster way to draft contracts, allowing lawyers to mitigate risk quickly and turn documents around more efficiently. With seven years of development behind our AI drafter, we’re well ahead of the curve.”
Investors share this enthusiasm. “Genie is transforming the way businesses handle transactions,” said Vidu Shanmugarajah, Partner at GV. “Their AI-driven, feature-rich editor is unlike anything on the market, and we’re excited to support them as they continue their impressive growth.”
Kanu Gulati, Partner at Khosla Ventures, echoed the sentiment: “Legal is one of the many industries set to be transformed by AI. Genie AI’s progress and vision made this an obvious investment for us.”
Genie AI has also attracted support from prominent figures in both AI and the legal sectors, including Professor Jun Wang, a global leader in generative algorithms and NLP, and Lord Neuberger, former President of the UK Supreme Court. This new funding positions the company to continue reshaping the legal landscape on a global scale.
