TLDR:
- Norm Ai, a NYC-based AI-powered regulatory compliance platform, raised $27 million in Series A funding led by Coatue.
- The funding round also saw participation from Bain Capital Ventures, Blackstone, New York Life Ventures, Citi Ventures, TIAA Ventures, and former President of Blackstone, Tony James.
Norm Ai, a provider of an AI-powered regulatory compliance platform based in NYC, has secured $27 million in Series A funding. The round was led by Coatue, with participation from other notable investors including Bain Capital Ventures, Blackstone, New York Life Ventures, Citi Ventures, TIAA Ventures, and former President of Blackstone, Tony James. This brings Norm Ai’s total funding to over $38 million within the past 11 months.
The company, led by Founder and CEO John Nay, has developed an AI platform that converts regulations into computer code. Norm’s team of AI engineers and legal experts created a proprietary language to represent government regulations and corporate policies as decision trees that can be executed as computer programs. These programs, known as Regulatory AI Agents, streamline compliance analyses to be more efficient, comprehensive, and accurate.
With this new capital, Norm plans to expand its platform and grow its client base. Additionally, they are actively hiring for roles across software engineering, AI engineering, legal engineering, sales, and more. Sri Viswanath, General Partner at Coatue and former CTO of Atlassian, will be joining Norm’s board to provide guidance and support.
Fortune 100 companies rely on Norm Ai for critical regulatory assessments, showcasing the value and impact of their AI-driven compliance solutions in the market.
