AI law startup Norm raises $120M, hits unicorn valuation

In Brief

AI instrumentality startup Norm connected Tuesday said it has raised $120 cardinal successful a Series C backing circular led by Khosla Ventures, valuing the astir three-year-old startup astatine $1.2 billion. 

Norm has built an AI-native instrumentality firm, called Norm Law, that uses the company’s ain AI agents, employs quality attorneys to supervise them, and offers ineligible services to endeavor clients. It’s besides gathering AI agents that tin supervise different AI agents arsenic they spell astir their tasks.

The institution charges based connected outcomes alternatively than billing its clients hourly, successful opposition to the remainder of the industry.

Norm is 1 of the galore ineligible AI startups that person popped up successful the past fewer years, specified arsenic Harvey and Legora, looking to capitalize connected the request to automate tedious work.

Other investors successful Norm’s Series C see Bain, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James (former president and COO of Blackstone), Jeff Hammes (former president of Kirkland & Ellis), and Fenwick LLP. The caller superior volition beryllium utilized to assistance physique retired the product, and prosecute much attorneys.

The institution has raised much than $260 cardinal successful backing to date.

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