AI law startup Norm raises $120 million at a unicorn valuation

TechCrunch reports that Norm raised a $120 million Series C led by Khosla Ventures at a roughly $1.2 billion valuation. The company is building an AI-native law firm and legal workflow business with human supervision. The round matters because legal AI is moving from point tools into service-model redesign, where the business model may compete with law-firm labor structure as much as with legal software.

Key details: Norm raised a $120 million Series C, Khosla Ventures led the round, The reported valuation is about $1.2 billion, Norm is building AI-native legal services with human supervision.

Why it matters: Large legal-AI rounds show investors backing not just software automation, but AI-shaped service firms that could change professional-services margins.