Norm Ai has secured a new investment of $50m from global asset manager Blackstone as it deepens its focus on AI-driven legal services.
The firm has raised $50m from Blackstone, channelled through Blackstone Innovations Investments and funds affiliated with Blackstone Growth. This additional capital reflects the expansion of an already established relationship between the two organisations.
Norm Ai provides legal and compliance automation tools used by global banks, hedge funds, insurers, and other major asset managers. Its platform is designed to help in-house legal and compliance teams manage regulated content review and other high-volume processes by converting complex legal frameworks into workflows supported by AI agents.
The fresh funding will support Norm Ai as it scales operations and launches Norm Law, a newly established AI-native law firm based in New York. Norm Law will initially focus on serving financial services clients, using AI-enhanced processes overseen by practising lawyers trained to work directly with the company’s technology. The firm intends to integrate Norm Ai’s proprietary “Legal Engineering” methodology into legal service delivery, with the aim of improving accuracy, speed, and the overall reliability of outcomes for large institutions.
Additional information from the company highlights the scale of Norm Ai’s footprint across the financial sector. It has built a team of more than 35 lawyers who have been trained as legal engineers, and its client base collectively manages more than $30tn in assets. According to the company, Norm Law has been shaped through joint development with Blackstone, leveraging the learnings from Blackstone’s own deployments of Norm Ai’s technology.
Blackstone Chief Legal Officer John Finley said, “Blackstone is looking forward to deepening its strong relationship with Norm Ai by collaborating to shape and develop Norm Law services that Blackstone could use. The implementation of Norm Ai within Blackstone’s in-house Legal & Compliance group has been highly impactful, and we’re excited to see the same innovation brought to legal services through Norm Law.”
Norm Ai founder and CEO John Nay said, “To truly transform the delivery of legal services, lawyers and AI need to be fully integrated from the ground-up and from day-one. Norm Law is uniquely positioned at the intersection of AI and trusted expert attorneys. We believe this technology platform and people approach will revolutionize premium legal services, delivering more efficient and effective outcomes for the world’s most sophisticated institutions.”
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