AI-powered regulatory compliance startup Norm.Ai has raised $27 million in a Series A funding round with participation from major funds including Coatue, Bain Capital Ventures, Blackstone, New York Life Ventures, Citi Ventures and TIAA Ventures. Over the past 11 months, the company has raised more than $38 million from leading firms.
Norm’s platform automates compliance analyses via a proprietary language used to represent government regulations and corporate policies as decision trees that become executable computer programs by leveraging large language models.
The company plans to use its new capital to expand the platform and hire roles in engineering, sales and more.
“I’ve been conducting research at the intersection of AI and law for more than a decade,” said Norm.Ai founder and CEO John Nay. “We are now at an inflection point in AI capabilities that, when properly harnessed, unlock massive improvements in regulatory compliance workflows across the economy.”
