Norm, an AI-powered law firm that pairs automated legal services with human attorneys, has raised $120 million in a new funding round led by Khosla Ventures. The investment values the company at $1.2 billion, according to a Bloomberg report.
The funding underscores growing venture interest in legal technology, particularly platforms that use artificial intelligence to streamline document review, contract analysis, and compliance work. Norm aims to challenge the traditional billable-hour model by automating routine tasks while keeping lawyers in the loop for complex decisions.
The round was led by Khosla, with participation from existing and new investors. Norm did not disclose its revenue or client count, but the company says its platform is used by corporate legal departments and law firms. The $120 million figure matches the total reported by Bloomberg.
With this capital, Norm plans to expand its engineering team and accelerate product development. The company also intends to scale its sales efforts to win more enterprise clients. The legal AI market remains competitive, with players like Ironclad and LawGeex also vying for market share.
Critics argue that AI in law still faces regulatory hurdles and ethical concerns, particularly around data privacy and liability for errors. Norm maintains its hybrid model—humans reviewing AI outputs—mitigates those risks.