Norm AI Valuation, Funding & Investors
Norm AI is valued at $1.2B as of July 2026.
Last Norm AI valuation
$1.2B
Series C · Jul 2026
Last Norm AI funding round
$120M
Series C · Jul 2026
Cumulative funding Norm AI raised
$256M
across 5 funding rounds
Key investors in Norm AI
Coatue
Blackstone
TIAA
Bain Capital Ventures
Craft Ventures
Citi Ventures
About Norm AI
Norm AI is a US-headquartered platform delivering AI-driven regulatory compliance for legal teams. Based in San Francisco, Norm's Legal Engineering Automation Platform converts regulations into AI agents using large language models. The system automates policy enforcement for finance and healthcare sectors. Founded in 2022 by ex-regulators, it processes thousands of legal documents daily.
Founded
2023
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1.2B (Jul 2026)
Norm AI Valuation
Norm AI is currently valued at $1.2B, based on its Series C in July 2026.
The $120M round was led by Khosla Ventures, with participation from New York Life Insurance, Tony James, Blackstone, Vanguard Group, Jeff Hammes and 6 other investors.
Norm AI valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2026 | Series C | $1.2B |
Norm AI Funding History
Norm AI has raised a total of $256M across 5 funding rounds.
Norm AI's first fundraising round was a $11M seed round in January 2024. The most recent completed round was a $120M Series C in July 2026.
Norm AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Series C | Khosla Ventures (lead); New York Life Insurance; Tony James; Blackstone; Vanguard Group; Jeff Hammes; Hamilton James; Bain Capital Ventures; Coatue; TIAA; Craft Ventures; Fenwick & West | $120M | $1.2B | Norm AI raised $120 million in a Series C funding round at a $1.2 billion post-money valuation, led by Khosla Ventures with participation from Bain Capital Ventures (BCV), Blackstone, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James, Jeff Hammes, and Fenwick LLP. The round, announced July 7, 2026, brings Norm AI's total funding to over $260 million since its founding in July 2023 by John Nay, former White House AI advisor. Bain Capital Ventures is a repeat investor, having previously participated in Norm AI's $27 million Series A in mid-2024 and its $48 million round in early 2025. Strategically, the capital will accelerate development of Norm AI's full-stack legal AI model, including supervisory AI systems that monitor AI deployments in regulated industries, while expanding hiring of AI engineers and attorneys. The funding supports Norm Law, an affiliate law firm offering AI-powered legal services with outcome-based pricing instead of billable hours, positioning Norm to compete with Harvey AI and Legora through a novel pricing model. Bain Capital Ventures partner Matt Harris noted Norm AI already powers internal regulated workflows at Bain while representing the firm in deals, demonstrating immediate enterprise utility. Norm AI operates as a New York-based agentic law company embedding legal requirements into AI agents for high-stakes work, translating regulations into machine-readable rules for large enterprises. The company has raised four rounds totaling approximately $260 million in under three years, culminating in unicorn status with its $1.2 billion valuation. Key investors include financial institutions representing over $5.75 trillion in assets, including insurers and asset managers not typically associated with venture-stage bets. |
| Nov 2025 | Undisclosed stage | Blackstone (lead) | $50M | - | Norm Ai is a New York-based legal and compliance AI company that provides a platform combining frontier AI, proprietary legal reasoning systems, and embedded legal and regulatory expertise to streamline workflows for in-house legal and compliance teams at global banks, hedge funds, insurers, and asset managers. The platform supports regulated content review and automated workflow execution using a 'Legal Engineering' methodology that turns legal code into AI code. Clients collectively manage over $30 trillion in assets under management, and the company has built a team of more than 35 lawyers trained as legal engineers. On November 20, 2025, Norm Ai announced a $50 million investment from Blackstone through Blackstone Innovations Investments and funds affiliated with Blackstone Growth, expanding their existing relationship. This brings Norm Ai's total funding raised to over $140 million from investors including Bain Capital, Vanguard, Citi, New York Life, TIAA, Coatue, Craft Ventures, and individuals like Tony James, Philippe Laffont, Henry R. Kravis, and Marc Benioff. Blackstone has deployed Norm Ai's technology in its in-house Legal & Compliance group and plans to collaborate on developing Norm Law services. The funding supports scaling Norm Ai's core Legal & Compliance platform and launching Norm Law LLP, a New York-based AI-native law firm initially focused on financial services clients. Norm Law integrates AI-enhanced processes overseen by practicing lawyers, aiming to improve accuracy, speed, and reliability for large institutions. The firm operates with a structured process for tailoring and supervising AI agents in real-world scenarios and is expanding at partner and senior associate levels, with a Legal AI Committee featuring experts like Ben Lawsky, Troy Paredes, Dan Berkovitz, and Tom Glocer. |
| Mar 2025 | Series A | Coatue (lead); Blackstone; Vanguard Group; Citi Ventures; Bain Capital; TIAA; Marc Benioff; New York Life Ventures; Craft Ventures | $48M | - | Norm AI is a New York-based legal and compliance automation platform founded in 2023 by John Nay, specializing in Regulatory AI agents that transform regulations, legal obligations, and corporate policies into AI-powered systems embedded in business workflows. The platform, built on the proprietary Legal Engineering Automation Platform (Leap), enables lawyers and ex-regulators to create AI agents with domain expertise, reducing compliance tasks from days to minutes and integrating 'compliant by design' checks into AI-generated content, communications, agreements, and marketing materials. On March 11, 2025, Norm AI announced a $48 million funding round led by Coatue, with participation from Craft Ventures, Vanguard, Blackstone Innovations Investments, Bain Capital, New York Life Ventures, Citi Ventures, TIAA Ventures, and Marc Benioff, bringing total funding to $87 million over 18 months following a prior $27 million Series A also led by Coatue. The investors represent over $5.75 trillion in assets, underscoring strong backing from financial institutions. Funds will accelerate R&D in legal and regulatory frameworks, expand platform capabilities, grow the client base, and support hiring in engineering, sales, and more. Norm AI serves enterprise clients in financial services, including global banks, hedge funds, insurance companies, and asset managers managing over $30 trillion in assets, with early adopters like Blackstone. Coatue's Philippe Laffont highlighted Norm's innovative compliance automation as defining regulatory AI. A later $50 million investment from Blackstone in November 2025 launched Norm Law LLP, an AI-native law firm for financial services, pushing total funding beyond $140 million. |
| Jun 2024 | Series A | Coatue (lead); Blackstone; Jefferson River Capital; Citi Ventures; Bain Capital Ventures; TIAA; New York Life Ventures | $27M | - | Norm AI is a New York-based regtech startup developing an AI-powered regulatory compliance platform that converts regulations and corporate policies into executable computer code using a proprietary language and large language models, automating compliance analyses for businesses of all sizes. The platform enables compliance teams to perform regulatory assessments efficiently, producing actionable feedback to meet requirements in minutes rather than days, targeting workflows across finance and other regulated sectors. Founded by John Nay, who has researched AI and law for over a decade, Norm AI positions itself as a leader in Regulatory AI amid growing AI capabilities. On June 25, 2024, Norm AI raised $27 million in a Series A funding round led by Coatue, with participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital (family office of former Blackstone President Tony James). This brought total funding over the prior 11 months to more than $38 million from leading institutions managing over $5.75 trillion in assets. Coatue's Sri Viswanath, former CTO of Atlassian, joined the board, citing Norm's comprehensive regulatory AI platform and supported compliance workflows. Proceeds will expand the platform, grow the client base, and hire across AI engineering, legal engineering, software engineering, sales, and more. The regtech market is projected to grow significantly, reaching $21.9 billion by 2034, driven by AI for legal operations and risk mitigation. |
| Jan 2024 | Seed | Coatue (lead); Atypical Ventures; Barry McCardel; M13; Haystack; Basis Set Ventures; Expa; Logan Kilpatrick; Oren Etzioni | $11M | - | Norm AI is a New York-based RegTech company founded by John Nay that automates regulatory compliance through its Regulatory AI Agent platform. The platform converts regulations into AI agents capable of making autonomous compliance determinations, assisting Chief Compliance Officers at companies from Fortune 100 firms to small businesses by improving efficiency and accuracy in compliance processes. On January 23, 2024, Norm AI raised $11.1 million in a seed funding round led by Coatue, with participation from Haystack Ventures, M13 Ventures, Basis Set Ventures, Expa Ventures, Atypical Ventures, and AI researchers including the founding CEO of the Allen Institute for AI. The funds are intended to further develop the platform and expand its offerings. Norm AI has established a Regulatory Advisory Board with experts such as Susan Dudley, former Head of the White House Office of Information and Regulatory Affairs, and Troy Paredes, former SEC Commissioner. The company emerged from stealth serving compliance teams and hosted events on AI agents and law featuring speakers like Lawrence H. Summers. |
Who has invested in Norm AI?
25 investors have backed Norm AI across its funding rounds, including Coatue, Blackstone, TIAA, Bain Capital Ventures, Craft Ventures and Citi Ventures.
Lead investors include Khosla Ventures, Blackstone and Coatue.
Norm AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 4 | Lead | Jun 2024 | |
| New York City, NY | 4 | Lead | Jan 2024 | |
| New York City, NY | 3 | Participant | Jun 2024 | |
| Kelayres, PA | 2 | Participant | Mar 2025 | |
| San Francisco, CA | 2 | Participant | Jun 2024 | |
| San Francisco, CA | 2 | Participant | Jun 2024 | |
| New York City, NY | 2 | Participant | Jun 2024 | |
| San Francisco, CA | 2 | Participant | Mar 2025 | |
| United States | 1 | Participant | Jan 2024 | |
| New York City, NY | 1 | Participant | Jul 2026 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Tony James | -- | 1 | Participant | Jul 2026 |
| Barry McCardel | San Francisco, CA | 1 | Participant | Jan 2024 |
| Jefferson River Capital | New York City, NY | 1 | Participant | Jun 2024 |
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Start Free TrialCommon questions about Norm AI
| When was Norm AI founded? | Norm AI was founded in 2023. |
| Where is Norm AI headquartered? | Norm AI is headquartered in New York City, NY, United States. |
| Is Norm AI publicly listed? | No, Norm AI is a private, VC-backed company. |
| What is Norm AI's valuation? | Norm AI was last valued at $1.2B in its Series C in July 2026. |
| How much funding has Norm AI raised? | Norm AI has raised $256M across 5 funding rounds. |
| What was Norm AI's last funding round? | Norm AI's last funding round was a $120M Series C in July 2026, led by Khosla Ventures. |
| Who are Norm AI's investors? | Norm AI's investors include Blackstone, Coatue, TIAA, Vanguard Group, Citi Ventures, Bain Capital Ventures, New York Life Ventures, Craft Ventures, Atypical Ventures, New York Life Insurance and 15 others. |
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