Norm, an AI-focused legal startup, said Tuesday that it has closed a $120 million Series C financing round, lifting its valuation to $1.2 billion. The company is still less than three years old, according to the report.
The round was led by Khosla Ventures, with participation from Bain, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James, Jeff Hammes and Fenwick LLP. Norm has now raised more than $260 million in total funding.
The company operates an AI-native law firm called Norm Law, which combines its own AI agents with human attorneys who oversee the work. It serves enterprise customers and says it charges for results rather than by the hour, a model that differs from traditional legal billing.
Norm is also developing AI agents designed to monitor other AI agents as they carry out tasks. The new capital will be used to expand the product and add more attorneys, according to the report.
Source: techcrunch.com
