Norm Ai, an AI-powered regulatory technology company, has raised $120m in Series C funding at a $1.2bn valuation to expand its platform for managing compliance, governance and regulated business workflows.
The funding round was led by Khosla Ventures, with participation from Blackstone, Bain Capital Ventures (BCV), Craft Ventures, Coatue, Vanguard, New York Life, TIAA, former Blackstone president and COO Tony James, former chairman of Kirkland & Ellis Jeff Hammes and Fenwick LLP. The investment brings Norm Ai’s total funding to more than $260m since its launch less than three years ago.
Norm Ai develops AI agents designed to integrate legal and regulatory requirements into enterprise processes, allowing organisations to automate regulated activities while maintaining oversight and governance controls. The company combines artificial intelligence technology with legal expertise to support businesses managing complex compliance obligations.
The platform is used by organisations representing more than $30trn in assets under management, according to Norm Ai. The company said its technology is increasingly being used to supervise AI systems operating in regulated environments, helping organisations monitor AI activity and maintain compliance as adoption of enterprise AI expands.
Norm Ai’s affiliated AI-native law firm, Norm Law, LLP, uses the platform to provide legal services, with senior attorneys overseeing and improving AI-generated outputs. The company said this approach allows businesses to benefit from AI-driven workflows while retaining human accountability and regulatory controls.
The Series C funding will support further hiring, expansion into additional legal and regulatory practice areas, and the development of supervisory AI agents designed to monitor enterprise AI deployments.
Norm Ai said its model differs from traditional legal service approaches by combining AI capabilities with legal expertise and focusing on outcome-based pricing rather than hourly billing.
Norm Ai founder and CEO John Nay said, “As AI capabilities race forward, one of the greatest opportunities is to build the interface between AI and the most legitimate encapsulation of human values: law. We are building that interface in an increasingly agentic society to (1) align legal services with the client, and (2) align AI with human values.”
Khosla Ventures managing director Samir Kaul added, “AI will not transform regulated work until institutions trust it, and that trust is the hardest thing to earn in this market. The most demanding buyers of legal services in the world already rely on Norm Ai. We led this round because John has built the only credible path to AI-native legal work at institutional scale.”
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