Norm Ai raises $27m to pioneer AI-driven regulatory compliance
Norm Ai, an innovator in AI-powered regulatory compliance, has successfully raised $27 million in a Series A funding round. The round was led by Coatue, with significant contributions from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital. This funding milestone, part of a total $38 million raised over the past 11 months, positions Norm Ai to reshape compliance across industries.
Founded with the vision to convert regulations into executable computer code, Norm Ai has developed the first AI platform of its kind. The team, consisting of AI and legal engineers, crafted a proprietary language to translate government regulations and corporate policies into decision trees. These are then turned into Regulatory AI Agents—executable programs that automate and enhance the accuracy, comprehensiveness, and efficiency of compliance analyses.
Fortune 100 companies are already deploying Norm Ai’s technology for critical regulatory assessments. For instance, insurance and asset management firms utilize the platform to expedite the publication of regulated content, drastically reducing the time required for compliance reviews from days to minutes.
John Nay, Founder and CEO of Norm Ai, highlighted the company’s pivotal moment in leveraging AI to revolutionize regulatory compliance workflows. “To have the Series A backing of such notable institutions is a testament to Norm Ai’s leadership in Regulatory AI,” Nay remarked.
Adding to the executive voices, Sri Viswanath, General Partner at Coatue and newly appointed board member of Norm, expressed enthusiasm about the company’s potential to deliver a comprehensive regulatory AI platform. Meanwhile, John Stecher, CTO of Blackstone, praised Norm Ai’s rapid execution and innovative approach to scalable regulatory compliance.
With the fresh infusion of capital, Norm Ai is set to expand its platform and client base further. The company is actively recruiting across various roles, including software engineering, AI engineering, and legal engineering, aiming to solidify its position as a leader in the AI-driven regulatory space.
The strategic investment in Norm Ai by some of the world’s leading financial institutions underscores the growing importance of AI in regulatory compliance. Norm Ai’s approach not only simplifies compliance processes but also integrates AI deeper into business operations, setting a new standard for the industry.