Norm Ai Raises $27 Million Series A to Expand AI-Driven Regulatory Compliance Platform
Summary
Over the past 11 months, Norm has raised more than $38 million from leading firms.Norm has built the first AI platform for converting regulations into computer code. For example, insurance companies and asset managers accelerate their publication of highly regulated content while freeing large amounts of bandwidth for other tasks. We are now at an inflection point in AI capabilities that, when properly harnessed, unlock massive improvements in regulatory compliance workflows across the economy. "Coatue continues to be impressed by Norms vision to deliver a comprehensive regulatory AI platform and we are excited by the array of compliance workflows they are already able to support. "Citi Ventures a venture arm of Citi, a bank with $2.4 Trillion in assets and 100+ Million customers across 160 countries 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.With this capital, Norm will continue to expand its platform and grow its client base.