Asian founded AI startup sees 30x growth, attracting major organisations
Over 100 new organisations sign up to Genie AI each day. Genie AI, an open-source legal artificial intelligence startup, has experienced a 30-fold rate of growth in one year with zero marketing spend.
In the past 12 months, Genie AI achieved the following major milestones:
- 1500+ templates (£7.5m worth) of open-source legal templates released at no cost to the general public
- 600+ free step-by-step DIY legal toolkits for US and UK businesses
- An AI-ready, real-time collaborative legal editor built from scratch and free-to-use (MS-Word Compatible)
- More than 36000 edits across 2000 new documents drafted by users every month
- The world’s first free-to-use plain language issue and clause library to drive the industry toward standardisation
These milestones represent a scratch to the surface of the $1 trillion global legal services industry. The rapid growth of Genie AI’s user base demonstrates a real market gap for on-demand and cost effective legal solutions.
Over 5,000 companies have registered to use the Genie AI platform in total, including:
- 1 of the USA’s top 3 banks
- 2 of the big 4 UK supermarket chains
- 350+ schools and universities
- 350+ companies with 250+ employees
- 300+ companies with 50-249 employees
- 1600+ companies with 4-49 employees
- 3000+ micro-businesses with 1-3 employees
SMB Founder Rachel Coles said, “I was so pleased to find Genie AI while drawing up a loan agreement for my business. This amazing concept has undoubtedly saved me thousands of pounds in legal fees. I will be sharing and using this excellent service again.”
Genie AI CEO Rafie Faruq said, “We’re seeing sustained exponential growth from businesses who are adapting to a faster, transparent and on-demand way of drafting legal agreements. Our smart editing tools are getting better every day, meaning more and more users are dropping traditional methods like Microsoft Word in favour of Genie.”
Over 300 lawyers and law firms also use Genie AI’s templates because access to similar libraries can cost over £5000 a year, and Genie AI is still free-to-use.
Freelance lawyer Suzanne Davies said, “It’s no surprise that names big and small are attracted to Genie AI’s radically transparent legal offering, their open source templates and clauses make high quality legal knowledge accessible, affordable and achievable for millions of business people.”
Genie AI is also popular with HR, compliance, sales, operations and marketing professionals who manage contracts or legal documents on a daily or weekly basis as part of their role.