Khosla Ventures Backs Legal AI Startup Norm at $1.2B Valuation, Raises $120M

According to Bloomberg, Norm AI raised US$120 million in a funding round led by Khosla Ventures yesterday (July 7), valuing the legal and compliance AI startup at US$1.2 billion. Blackstone, Bain Capital Ventures, and Coatue Management participated in the round, bringing Norm's total funding to over US$260 million since its July 2023 founding. The company builds AI tools that review regulatory documents, internal communications, and business materials. Its clients include banks, hedge funds, and insurers managing over US$30 trillion in assets collectively.
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