Genie AI raised £13.3M in a Series A round led by Google Ventures and Khosla Ventures to enhance its AI legal editing capabilities.

Oct 23, 2024•9 months ago

Amount Raised

£13.3 Million

Round Type

series a

LondonLegal TechNatural Language ProcessingLegalMachine LearningArtificial IntelligenceSoftware

Investors

Khosla VenturesGoogle Ventures

Description

Genie AI has secured £13.3 million in Series A funding, with contributions from Google Ventures and Khosla Ventures. The funding will be utilized to further improve its agentic legal editor, building upon previously raised funds totaling over £15 million.

Company Information

Company

Genie AI

Location

London, England, United Kingdom

About

Genie AI was founded in 2017 by Rafie Faruq and Nitish Mutha who specialised in generative AI while taught at UCL by leading researchers at Google DeepMind. They recognised the opportunity for AI to reduce the time spent on tasks that involve language processing, data analysis, and decision-making, all prevalent in contract drafting, and developed the most advanced AI legal drafter in the market.

Funding Insights

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VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Genie AI raised £13.3M in a Series A round led by Google Ventures and Khosla Ventures to enhance its AI legal editing capabilities.

Investors

Description

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