Norm Ai, a US RegTech company specializing in converting regulations into computer code via an AI platform, has secured $27 million in Series A funding from a range of financial institutions.
The funding round was led by Coatue, with contributions from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital. In the past 11 months, Norm has raised over $38 million to support its growth and enhance recruitment across key areas such as software engineering, AI engineering, legal engineering, and sales.
The company has created a proprietary language that translates government regulations and corporate policies into decision trees, which can then be converted into executable computer programs using large language models. These programs, known as Regulatory AI Agents, automate compliance analyses, significantly improving efficiency, comprehensiveness, and accuracy. Norm claims that its technology allows compliance professionals to assess and complete regulatory content in minutes rather than days.
John Nay, Founder and CEO of Norm Ai, stated, "I’ve been conducting research at the intersection of AI and law for more than a decade. We are now at an inflection point in AI capabilities that, when properly harnessed, unlock massive improvements in regulatory compliance workflows across the economy."
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