Contract drafting start-up Genie AI has announced financial backing of over £2m – made up of £1.2m in seed funding and £800,000 in cash from the government’s Research and Innovation initiative. The firm’s SuperDrafter flagship product is currently being piloted by Clifford Chance, Withers and Pinsent Masons, with Lord Neuberger counted among its high-profile backers. Dr Phil Lindan, innovation manager at Withers, said the system would provide “fully curated expertise” on tap as lawyers assemble documents. “That kind of augmented capability, an algorithmic expert sitting by your side, is the future for law and many professions,” he said. The cash injection will partly be used to help Genie develop a second product, Anonymiser, which it said “automatically redacts confidential information from contracts” to comply with GDPR.”
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June 5, 2019
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June 5, 2019