Khosla co-led with $120 million, and Norm’s valuation just skyrocketed. AI + law + outcome-based billing— the model is pretty wild. If the regulatory compliance agent can truly run end-to-end, then those two tough nuts—finance and healthcare—will be incredibly promising.

Coin World News, according to Bloomberg, AI legal startup Norm has completed a $120 million funding round, with a post-investment valuation of $1.2 billion. The round was led by Khosla Ventures, with participation from Blackstone, Bain Capital Ventures, Coatue Management, and others, bringing total cumulative funding to over $260 million. Norm has established its own Norm Law firm, directly serving clients and charging based on results. The company is developing AI regulatory compliance agents for regulated industries such as finance and healthcare, and plans to use the new funds to expand its team of engineers and lawyers and strengthen related systems.