According to Bloomberg, AI legal startup Norm raised $120 million in a new funding round on July 7, bringing its valuation to approximately $1.2 billion. Khosla Ventures led the round, with participation from Blackstone, Bain Capital Ventures, and Coatue Management. The company has accumulated over $260 million in total funding since its 2023 founding.
Unlike traditional legal software vendors, Norm operates its own law firm, Norm Law, providing legal services delivered by lawyers and AI engineers working collaboratively. The company plans to use the new capital to expand its engineering and legal teams while developing AI compliance tools for regulated industries including finance and healthcare.