Woofun AI reports that AI legal technology startup Norm has closed a $1.2 billion funding round, establishing a company valuation of $12 billion. Khosla Ventures led the investment, with participation from Blackstone, Bain Capital Ventures, and Coatue Management. This brings Norm's total capital raised to over $2.6 billion.

Founded in 2023, Norm distinguishes itself by operating its own law firm, Norm Law, to provide direct AI-driven legal services rather than selling software. The firm utilizes an outcome-based pricing model instead of traditional hourly billing.