Norm Ai Raises $27 Million in Series A
Norm Ai, a New York-based company that provides AI-powered regulatory compliance solutions, raised $27 million in Series A funding.
Norm Ai, a New York-based company that provides AI-powered regulatory compliance solutions, raised $27 million in Series A funding.
Investors
The round was led by Coatue, with participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital, the family office of Tony James.
Founded in 1999 and based in New York, Coatue is a private equity firm that prefers to invest through buyouts and growth capital in the technology, media, financial technology, climate technology, and telecommunications sectors.
Norm Ai Use of Funds
The company will use the funding to expand its platform and grow its client base.
About Norm Ai
Founded by John Nay, Norm Ai has developed an AI platform designed to convert intricate regulations into executable computer code. This platform utilizes a proprietary language to translate government regulations and corporate policies into decision trees, which are then implemented as Regulatory AI Agents that automate the analysis of regulatory compliance. By automating compliance assessments, Norm Ai enables companies to streamline their regulatory processes, freeing up resources for more strategic tasks.
Funding Details
Company: Norm Ai, Inc.
Raised: $27.0M
Round: Series A
Funding Month: June 2024
Lead Investors: Coatue
Additional Investors: Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, Jefferson River Capital, the family office of Tony James
Company Website: https://www.norm.ai/
Software Category: AI Regulatory Compliance Solutions
