Genie AI Market Research Report
Company Overview
- Name: Genie AI
- Mission: To open-source the law and enable everyone to draft quality legal documents by building a community-based AI platform where customers can use trusted legal templates or create bespoke agreements using an AI assistant.
- Founded: 2017
- Founders: Rafie Faruq and Nitish Mutha
- Key People:
- Rafie Faruq, CEO & Co-Founder
- Nitish Mutha, CTO & Co-Founder
- Headquarter: No information is available
- Number of Employees: 26+
- Revenue: No information is available
- Known For: Genie AI is a leading provider of AI-powered legal technology, particularly known for its SuperDrafter Editor and AI Legal Assistant which allow for efficient, comprehensive legal document creation and review.
Products
Genie AI Platform
- SuperDrafter Editor
- Description: Imports complex Microsoft Word files, structuring them for use by the AI legal assistant.
- Key Features: Precision in structuring legal documents for AI processing.
- AI Legal Assistant
- Description: Performs drafting, reviewing, editing, red-lining, and commenting on legal documents.
- Key Features:
- Instantly drafts and edits documents
- Provides guidance and suggestions like a junior lawyer
- Legal Library
- Description: Contains 50,000 toolkits, templates, clauses, and guidance notes.
- Key Features: Vast database of legal resources, fully compatible with Genie’s platforms.
Recent Developments
- Funding: Genie AI has recently raised $17.8 million (£13.3 million) in Series A funding led by GV (Google Ventures), alongside participation from Khosla Ventures.
- Product Enhancements:
- The funding will enhance AI document risk review features.
- Improvements promise more customized, comprehensive AI drafting and enhanced overall product capabilities.
- New Features: Upgrades include faster negotiation features and free legal document generator capabilities covering over 1000 contract types.
- Strategic Alliances: Partnered with the Computational Privacy Department at Imperial College London in a £1 million research project related to privacy and anonymity in legal contracts.
Genie AI’s continued growth and ambition to improve legal operations with AI have positioned it as a transformative player in the legal tech space, trusted by a widening base of enterprises and law firms globally.
