According to Bloomberg, AI legal startup Norm has raised $120 million in funding, with a post investment valuation of $1.2 billion. Led by Khosra Ventures and with participation from Blackstone, Bain Capital Ventures, Coatue Management, and others, the company has raised over $260 million in total. Norm has established its own law firm, Norm Law, which directly provides legal services to clients through collaboration between lawyers and AI engineers, and charges based on results. The company is developing AI regulatory AI compliance agents for regulated industries such as finance and healthcare, and plans to expand its team of engineers and lawyers with new funds and strengthen related systems.