in fall of 2023, I joined a seed-stage company called Nomos AI as the first non-engineer. today, we are a unicorn🦄
200+ of the best colleagues, $1.2b valuation, over $260 million raised, and clients representing $30 trillion in AUM.
so proud of this team today (and every day)
We just raised a $120 million Series C at a $1.2 billion valuation, led by @khoslaventures, to pursue the full-stack approach to legal AI.
Blackstone, Bain Capital, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James, and Jeff Hammes (former Chairman of Kirkland & Ellis) also participated.
Norm Ai (@normativeai ) has now raised more than $260 million since I founded the company less than three years ago to build agentic law. We’ve built a team of more than 200, primarily engineers and attorneys, to embed law into AI agents.
Norm Law, an affiliated AI-native law firm running on the Norm Ai platform, uses those AI agents to serve clients like Blackstone as outside counsel, with attorneys supervising and improving the agents.
Because Norm Law runs natively on Norm Ai’s agentic law technology and prices based on outcomes rather than hours, benefits of AI can now flow directly to the client. This creates a client-aligned incentive structure, unlike model providers, whose revenue is driven by token usage, and traditional law firms, whose revenue is driven by billing hours of human labor.
The key distinction is the integration of the pricing model, the technology, and the people. Norm Law is chaired by Mike Schmidtberger, the former Chair of the Executive Committee of Sidley Austin. Other Partners include the former Global Head of Real Estate at Sidley Austin, a senior M&A Partner from Ropes & Gray, the General Counsel from Bain Capital Ventures, and key attorneys from Kirkland & Ellis, Simpson Thacher, Paul Weiss, Davis Polk, Skadden, Cleary Gottlieb, Latham & Watkins, Paul Hastings, Proskauer, and Pillsbury.
Clients representing more than $30 trillion in assets under management use Norm Ai software, deploying legal AI agents directly for their in-house legal teams. Norm Ai’s technology is increasingly deployed to supervise other AI agents operating in regulated environments. When companies deploy their own AI agents in high-stakes roles like communicating directly with clients about investment products, Norm Ai's agents check that those agents are in compliance.
The Series C will accelerate expanding practice area coverage and advance our supervisory agents.
History shows technology can drive economic growth—but only if policy keeps up. To unlock AI’s potential while safeguarding the public, regulators must deepen their technical expertise and ensure that regulatory requirements factor in AI, @johnjnay and Troy A. Paredes of @NormativeAi argue. https://t.co/bF276G4pYO
💥 Energy and innovation.
💭 Amazon Web Services (@awscloud) has supported more startups than any other cloud provider.
🎉 Proud to partner with $AMZN for New York Tech Week (@Techweek_), helping to shape the future of generative AI.
Looking forward to exploring AI, regulation & compliance with expert panelists at our July 8 event! Hear from Dan Berkowitz, @reevebull, Cary Coglianese, @SusanEDudley, @MichaelMandel, @johnjnay, Troy Paredes & more. Register today and join us next month
https://t.co/Z4jCqvhOow
Today, Norm Ai announces the formation of two executive advisory boards to guide the development and deployment of AI agents in regulated industries.
Our newly formed AI Agent Advisory Committee includes CTOs and other technology leaders from Blackstone, Vanguard, TIAA, New York Life Insurance Company, and Coatue. These executives bring deep expertise in enterprise systems and AI strategy, and collaborate with Norm Ai to define the architectures, frameworks, and policies necessary to deploy AI agents responsibly at scale.
In parallel, we are expanding our Regulatory Advisory Board to include Chief Compliance Officers and Chief Legal Officers from Blackstone, TIAA, New York Life Insurance Company, and Coatue, alongside former senior regulators. This board ensures that AI systems are designed with rigorous legal and compliance standards.
The formation of these advisory boards follows Norm Ai’s recent $48M funding round led by institutions with more than $15 trillion in assets. It also reflects our ongoing commitment to building the regulatory infrastructure for safe, compliant, and effective AI agent deployment in the enterprise.
Very happy to share this news and so proud of our team.
Regulatory complexity is only growing, and Norm Ai is building the tools and setting the norms to help companies navigate an increasingly complex landscape.
We are excited to announce $48 million in additional funding today from Coatue, Craft Ventures, Vanguard, Blackstone Innovations Investments, Bain Capital Ventures, New York Life Ventures, Citi Ventures, TIAA Ventures, and Marc Benioff, bringing the total funds raised to $87 million over the past 18 months.
Investors in this round collectively represent more than $15 trillion in assets.
Norm Ai is a legal & compliance automation platform that transforms how enterprises handle legal, regulatory and industry requirements. Rather than treating compliance separate from the business, Norm implements compliance checks proactively and delivers end-to-end enterprise-wide solutions.
The Norm Ai solution is built with the Legal Engineering Automation Platform (LEAP), our proprietary system for creating AI Agents with legal and regulatory domain expertise. LEAP empowers lawyers and ex-regulators at Norm Ai to convert complex policies into operational AI systems powered by Large Language Models.
We are also excited to announce today that Troy Paredes has joined as Senior Policy Advisor and Head of Capital Markets Strategy at Norm Ai to accelerate the company in setting the norms for regulatory and compliance AI. From 2008-2013, Mr. Paredes was a Commissioner of the U.S. Securities and Exchange Commission, having been appointed by President George W. Bush.
At the SEC, Mr. Paredes was actively involved across the SEC’s regulation and oversight of capital markets, and has been a strong proponent of leveraging technology in regulatory and compliance environments.
Thrilled to welcome this newest cohort of the Norm Ai team.
Paul Wooten, with a Harvard Law School J.D., is joining us from O'Melveny & Myers LLP. Paul previously served in legal roles at the FBI, Manhattan DA’s Office, and Kings County DA’s office.
Luke Frankson, with a Harvard Law School J.D., is joining Norm after serving as Counsel at Two Sigma, Principal Counsel in the Department of Enforcement at FINRA, and an Attorney at Sidley Austin LLP.
Yehuda Maes, with a Harvard Law School J.D., previously worked at Bain & Company, Citadel, and Blackrock, before Norm. He was also a Paratrooper in the Israeli Defense Forces.
Michael Rosengard, with a Harvard Law School J.D., is joining us from Cleary Gottlieb in the Private Funds practice group in NYC. Previously, he was at Morgan Stanley.
Daniel Campos, with a Harvard Business School MBA, joined Norm, with experience from Palantir Technologies and IBM, where he focused on Generative AI.
Alina Crouch, with a Harvard University B.A., joined the Norm team after working at Retool, Yext, and Davis Polk & Wardwell.
Browning Gentry joined Norm with 7 years of software engineering experience at Oscar Health, where he was a tech lead. He holds a B.S. in Industrial Engineering from Virginia Tech.
Anna Nixon joined Norm after software engineering and product experience at Hashboard and Autodesk. She holds a B.S. in Computer Science from University of Pennsylvania.
Sami Belkadi, with a B.S. from Princeton University, joined Norm after experience as a founding engineer and product manager in technology companies.
Paul Dechov joined Norm with 7 years of experience as a Tech Lead at Automattic. Paul holds a B.S. in Computer Science from Cornell University.
Olivia Zhang joined Norm from Citi. She was previously in investment banking at Citi and investing at Citi Ventures. Olivia holds a B.A. from University of California, Berkeley.
David Thelander moved into a Senior Director of Business Development role at Norm. He previously served as SEC Enforcement Senior Counsel, Chief Legal Officer of Charles Schwab International, and Managing Director and Director at PwC, IBM and Deloitte.
We look forward to all of their contributions as we continue to deploy the Norm Ai legal & compliance workflow platform across the Fortune 100.
The Legal Engineering, AI Engineering, Platform Engineering, Product Engineering, Client Engagement, Sales, and Legal teams at Norm Ai continue to add talent in our NYC World Trade Center HQ.
See our job listings for additional career opportunities!
Citi’s latest report, "Agentic AI: Finance & the ‘Do It For Me’ Economy", underscores the role of AI in shaping the future of finance.
We’re honored that Norm Ai and John Nay (@johnjnay) are featured in this analysis.
@Citi covered how the growth of regulatory complexity has made it difficult for companies to comply with the routine thousand-page regulation in a time-sensitive and cost-effective way, and how Norm Ai's Regulatory AI makes it possible to convert these complicated regulations into AI agents to facilitate compliance and operations.
I'm hiring more Legal Engineers at Norm Ai (@normativeai). You don't need to write any code, but you will engineer Regulatory AI alongside former regulators and AI engineers.
Our Legal Engineering team at Norm is from:
- Harvard Law
- Stanford Law
- Yale Law
- Columbia Law
- Sullivan & Cromwell LLP
- Simpson Thacher & Bartlett LLP
- Davis Polk & Wardwell LLP
- FINRA
- McKinsey
- U.S. Marine Corps
We automate compliance processes to make them more efficient & effective.
In this role, you will work in our office in 7 World Trade Center alongside software engineers, & AI engineers to:
- Provide nuanced analysis of complex and ambiguous rules.
- Leverage our Norm Ai proprietary internal tools to further develop automated analyses of regulations.
- Build Regulatory AI agents.
- Deploy the Norm Ai compliance workflow automation platform across the rest of the Fortune 100.
Requirements:
- Juris Doctor.
- 3+ years as a law firm associate.
Link to apply is in the thread.
Thrilled to announce that today the Chief Compliance Officer of New York Life Insurance Company, Sandi Tillotson, joined our Regulatory Advisory Board.
@NewYorkLife, a Fortune 100 company with a 179-year legacy, is the largest mutual life insurance company in the U.S. and one of the largest life insurers in the world. With a network of over 12,000 insurance agents, New York Life serves millions of clients nationwide. The company also manages more than $800 billion in investment assets, spanning diverse asset classes and global markets.
Sandi leads NYL’s compliance programs across both its insurance and investment operations, while also overseeing the company’s ethics, anti-money laundering, and privacy programs.
Prior to NYL, Ms. Tillotson served as a Litigation Associate with Bingham McCutchen LLP. She began her career in 1994 serving as a Public Affairs Specialist in the Office of Ambassador Madeleine K. Albright, U.S. Mission to the United Nations. Ms. Tillotson holds a J.D. from the Columbia University School of Law.
Ms. Tillotson brings more than 20 years of legal and compliance leadership experience to the Norm Ai Regulatory Advisory Board, where she will be working closely with us as we deploy our AI-powered compliance workflow automation capabilities for large enterprises.
John Nay (@johnjnay), CEO of Norm Ai, said: “We have already greatly benefited from learning from Sandi and her teams at New York Life, and we are thrilled to formally welcome her to our Regulatory Advisory Board.”
“New York Life is committed to leveraging innovative technology, including for compliance, to deliver on our mission and enhance experiences for our clients, agents, and employees,” said Ms. Tillotson. “I have seen the Norm Ai team execute rapidly, and I am excited to advise their expansion across regulatory frameworks and compliance workflows.”
Ms. Tillotson joins a broader Norm Ai Regulatory Advisory Board that includes a former White House Regulatory Czar, former SEC Commissioner, and the former Superintendent of the New York Department of Financial Services.
We are thrilled today to welcome the newest set of Norm Ai team members: Lynn Lawson, Madison Marlow, Fiyi Adebekun, Noah Putnam, Dylan Ottney, and Ben Setel.
- Dylan was an Attorney at Sullivan & Cromwell LLP. Prior to obtaining his J.D. from Harvard Law School, he served in the United States Marine Corps for 5 years.
- Ben holds a Columbia Law School J.D. and a Cornell University Master of Engineering in Computer Science. He was previously an Attorney at Davis Polk & Wardwell LLP.
- Lynn, a Norm Ai Legal Engineer, served as a FINRA Regulator in DC for 22 years after obtaining her J.D.
- Madison, most recently an Attorney at Anderson Kill Wood & Bender, P.C., has recently published articles on AI & Insurance Law.
- Fiyi was a machine learning engineer at Apple and holds a degree in Computer Science from the Massachusetts Institute of Technology.
- Noah, after obtaining a degree in Computer Science from Harvard University, was an engineer at Palantir Technologies.
We look forward to all of their contributions as we continue to define the category of Regulatory AI and deploy the Norm Ai compliance workflow automation platform across the Fortune 100.
The AI Engineering, Legal Engineering, Software Engineering, and Client Implementation teams at Norm Ai continue to add world-class talent in our World Trade Center HQ.
Check out our job listings for additional opportunities!
👋 I've developed AI governance frameworks for startups, investors and F200 execs alongside policymakers, platforms, academics, civil society, and research orgs
They're designed to function as defacto standards that compel key players to build more trustworthy, societally beneficial AI
Below are some thoughts on AI policy opportunities
I think a lot about feasibility, incentive alignment, knock on effects of proposed legislation, and risk scoring
And take a systems approach to AI governance, usually prioritizing the following:
> Transparency in frontier model development and preserving open source
> Whistleblower protections
> Preserving geopolitical competitiveness and America's ability to innovate (through, in part, housing catastrophic risk protections with the federal government and preventing a patchwork of state legislation)
> Leveraging existing legal and liability frameworks. Modifying those as needed, given ⬆️ priorities
Tech is evolving and these categories are mediated by an 'if-then' approach to emerging risks (~ 'If models display x capabilities, y mitigations are in place')
This reflects my focus on evidence-based policymaking. I'm a student of superforecasting and believe in multi-sector expert collaboration, ensuring laws are grounded in a shared reality supported by data and research
[Select references:
https://t.co/DT4LYQpXcb
https://t.co/yLDjyPPTME
https://t.co/y9cK6W5G3n]