![On its journey to set the norms for AI-powered regulatory compliance, Norm Ai has raised a fresh round of capital from some of the world's most respected financial institutions, collectively representing more than $5.75 trillion in assets. The company has secured a $27 million Series A led by Coatue, with participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital, the family office of Tony James, the former President and COO of Blackstone. Over the past 11 months, Norm has raised more than $38 million from leading firms.](https://startuprise.io/wp-content/uploads/2024/06/Norm.webp)
On its journey to set the norms for AI-powered regulatory compliance, Norm Ai has raised a fresh round of capital from some of the world’s most respected financial institutions, collectively representing more than $5.75 trillion in assets. The company has secured a $27 million Series A led by Coatue, with participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital, the family office of Tony James, the former President and COO of Blackstone. Over the past 11 months, Norm has raised more than $38 million from leading firms.
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Citi Ventures ā a venture arm of Citi, a bank with $2.4 Trillion in assets and 100+ Million customers across 160 countries ā also invested in the round. Finally, Jefferson River Capital, the family office of Tony James, the former President and COO of Blackstone (2002-2018) and currently Chairman of the Board of Costco, invested alongside these institutions.
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With this capital, Norm will continue to expand its platform and grow its client base. The company is hiring for roles across software engineering, AI engineering, legal engineering, sales, and more.
Norm has built the first AI platform for converting regulations into computer code. The team of AI engineers and legal engineers developed a proprietary language to represent government regulations and corporate policies as decision trees that become executable computer programs by leveraging powerful large language models. These programs, called Regulatory AI Agents, automate compliance analyses to make them more efficient, comprehensive, and accurate. The Norm approach also sets the foundation for integrating AI more deeply into businesses by ensuring that AI-driven actions and content from generative systems adhere to policies through a Regulatory AI agent overlay.
Fortune 100 companies deploy Norm Ai for critical regulatory assessments. For example, insurance companies and asset managers accelerate their publication of highly regulated content while freeing large amounts of bandwidth for other tasks. By automatically providing clear, actionable explanations for proactive compliance findings, Norm Ai empowers business users to self-serve initial rounds of regulatory compliance reviews. By producing actionable feedback across all regulatory parameters, Norm Ai enables in-the-weeds compliance users to evaluate and finalize content against regulatory requirements in minutes, not days.
John Nay, Founder and CEO of Norm Ai: “I’ve been conducting research at the intersection of AI and law for more than a decade. We are now at an inflection point in AI capabilities that, when properly harnessed, unlock massive improvements in regulatory compliance workflows across the economy. To have the Series A backing of such notable institutions is a testament to Norm Ai’s leadership in Regulatory AI.”
Sri Viswanath, General Partner at Coatue and former CTO of Atlassian, will join Norm’s board. “Coatue continues to be impressed by Norm’s vision to deliver a comprehensive regulatory AI platform and we are excited by the array of compliance workflows they are already able to support. We are thrilled to double down on Norm as they seek to grow into a transformational AI company, and I look forward to supporting John and his team on their next steps.”
About Norm Ai
John Nay founded Norm Ai after a decade of research at the intersection of AI & Law, most recently at Stanford. Regulation-aware AI agents purpose-built for compliance teams. Norm Ai has built the first Regulatory AI Agent platform. Norm Ai is automating compliance processes, making them more efficient, cost-effective, and accurate than ever, while also ensuring democratic guardrails for AI in autonomous roles. By converting complex regulations into intelligent AI programs, we enable compliance teams to operate with unprecedented speed and precision.