Genie AI Raises $17.8M from Google Ventures to Transform Legal Tech with Generative AI Tools
Genie AI raises $17.8M from Google Ventures for a Startup in Legal Tech
London-based Genie AI has raised $17.8 million in Series A funding led by Google Ventures, the ideal next step for the legal tech space. Genie AI is known to develop generative AI tools to simplify the drafting, review, and negotiation of legal documents and contracts. With this source of funds, the company will advance its mission to promote automation in the legal industry, streamline workflows, and precision.
The core product of the startup is called SuperDrafter, which based its optimal recommendations for legal clauses on thousands of previously drafted documents and made use of a power machine learning capability. Genie AI hopes this innovation will enable law firms and legal departments to produce contracts faster and with greater accuracy-more productive working results for clients. Genie AI aims to continue refining the technology as well as expand its presence among premium law firms already represented in its client base with some of the market’s biggest players.
This endorsement by Google Ventures mirrors the steady drift of AI merging with legal services, where firms are striving to adapt technology that enhances productivity without sacrificing compliance. Genie AI has future plans for further development of its generative AI capabilities and seeking partnerships with markets worldwide to further amplify its impact on legal tech.
It is within this context that this funding speaks also to Google’s ever-expanding focus on AI-driven solutions that question and challenge traditional industries, therefore it is against this backdrop that the automation of legal fields is happening in real-time.
