AI law startup Norm raises $120M, hits unicorn valuation
AI law startup Norm has raised a $120 million Series C round led by Kholsa Ventures, valuing the startup at $1.2 billion.
The company charges based on outcomes rather than billing its clients hourly, in contrast to the rest of the industry. Norm is one of the many legal AI startups that have popped up in the past few years, such as Harvey and Legora, looking to capitalize on the need to automate tedious work. Other investors in Norm’s Series C include Bain, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James (former president and COO of Blackstone), Jeff Hammes (former chairman of Kirkland & Ellis), and Fenwick LLP. The fresh capital will be used to help build out the product and hire more attorneys. The company has raised more than $260 million in funding to date. Last chance to save up to $190 on TechCrunch Founder Summit. Join 1,000+ founders and VCs at all stages for real-world scaling insights and connections that move the needle.Savings end June 26, 11:59 p.m. PT. Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility is your destination for transportation news and insight. Startups are the core of TechCrunch, so get our best coverage delivered weekly. Provides movers and shakers with the info they need to start their day. By submitting your email, you agree to our Terms and Privacy Notice.
