Norm Ai Raises $120 Million at a $1.2 Billion Valuation Led by Khosla Ventures to Deliver the Full-Stack Model for Legal AI

Norm brings together senior attorneys and AI engineers to build agentic law, already serving institutions managing more than $30 trillion.

NEW YORK, July 7, 2026 /PRNewswire/ -- Norm Ai raised a $120 million Series C at a $1.2 billion valuation, led by Khosla Ventures, the first institutional investor in OpenAI. Blackstone, Bain Capital Ventures (BCV), Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James (former President, Chief Operating Officer, and Executive Vice Chairman of Blackstone), Jeff Hammes (former Chairman of Kirkland & Ellis), and Fenwick LLP also participated, drawing a rare mix of financial, legal, and venture capital investors. The company has raised more than $260 million since its founding less than three years ago.

Norm Ai builds agentic law for high-stakes work by bringing AI engineers and attorneys together to embed law into AI agents. Norm Law, LLP, an affiliated AI-native law firm running on the Norm Ai platform, uses those AI agents to serve clients as outside counsel, with senior attorneys supervising, calibrating, and improving the agents.

Because Norm Law runs natively on Norm Ai's agentic law technology and prices based on outcomes rather than hours, the benefits of AI can flow directly to the client. This creates a client-aligned incentive structure, unlike model providers, whose economics are tied to token usage, and traditional law firms, whose economics are tied to billing hours.

Norm Law is chaired by Mike Schmidtberger, the former Chair of the Executive Committee of Sidley Austin. Other Partners include the former Global Head of Real Estate at Sidley Austin, a senior M&A Partner from Ropes & Gray, the General Counsel from Bain Capital Ventures, and lawyers from Kirkland & Ellis, Simpson Thacher, Paul Weiss, Davis Polk, Skadden, Cleary Gottlieb, Latham & Watkins, Paul Hastings, Proskauer, and Pillsbury.

Clients representing more than $30 trillion in assets under management use Norm Ai, deploying legal AI agents directly for their in-house legal teams. Norm Ai's technology is also increasingly deployed to supervise other AI agents operating in regulated environments. When companies deploy their own AI agents in increasingly high-stakes roles, Norm Ai's agents built for that work can check that those agents are performing appropriately.

"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." said John Nay, founder and CEO of Norm Ai. "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."

"AI will not transform regulated work until institutions trust it, and that trust is the hardest thing to earn in this market," said Samir Kaul, Managing Director at Khosla Ventures. "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."

"Norm offers premium legal services using a fundamentally different operating model and price structure," said Kurt Chauviere, who leads Legal AI efforts at Blackstone. "Norm was built to drive speed, quality and efficiency gains from AI, and share those gains with its clients. They continue to add practice areas and senior attorneys relevant to us. As Blackstone becomes more AI-forward, it's fitting that we are ramping up with an AI-native law firm."

"The investment management ecosystem has needed a law firm built for the benefit of its clients," said Matt Harris, Partner at Bain Capital Ventures. "Norm has already proven that this is possible and we've witnessed it firsthand: Norm Ai powers internal regulated workflows at Bain Capital, while Norm Law represents us in deals in a way that benefits our firm and our portfolio companies."

The Series C will accelerate hiring, expand practice area coverage, and advance Norm Ai's supervisory agents for regulated enterprise AI deployments.

About Norm Ai

Norm Ai builds agentic law, embedding law into AI agents. Its systems help govern how AI operates in high-stakes, regulated environments across a client base representing more than $30 trillion in combined assets under management. Norm Ai also powers Norm Law, the first AI-native law firm built for institutional clients. Norm Ai has raised more than $260 million from Khosla Ventures, Craft Ventures, Bain Capital Ventures, Coatue, Blackstone, Vanguard, Citi, New York Life, TIAA, Henry R. Kravis, and Marc Benioff.

For more information, visit norm.ai.

SOURCE Norm Ai