[AI Legal Services Company Norm Secures $120 Million in Funding, Led by Khosla Ventures] According to Bloomberg, AI legal startup Norm has completed a new $120 million funding round, bringing its post-money valuation to approximately $1.2 billion. The round was led by Khosla Ventures, with participation from Blackstone, Bain Capital Ventures, Coatue Management, and others, bringing its total funding to over $260 million. Founded in 2023, Norm differs from the traditional model of selling software to law firms by establishing its own Norm Law firm, directly providing legal services to clients through collaboration between lawyers and AI engineers. The company charges based on results rather than hourly rates. Norm is also developing "AI regulating AI" compliance agents for regulated industries such as finance and healthcare. The new funds will be used to expand its team of engineers and lawyers and to strengthen related systems.