The impact of non-Newtonian behavior and the dynamic contact angle on the rise dynamics of a power law liquid in a vertical capillary is studied theoretically and experimentally for quasi-steady-state flow. An analytical solution for the time evolution of the meniscus height is obtained in terms of a Gaussian hypergeometric function, which in the case of a Newtonian liquid reduces to the Lucas-Washburn equation modified by the dynamic contact angle correction. The validity of the solution is checked against experimental data on the rise dynamics of a shear-thinning cmc solution in a glass microcapillary, and excellent agreement is found.