Relyance AI, a leader in AI-powered data governance, has announced the close of a $32.1 million Series B funding round. The round was led by Thomvest Ventures, with participation from M12 (Microsoft’s venture fund), Cheyenne Ventures, Menlo Ventures, and Unusual Ventures. This investment will allow Relyance AI to scale its operations and address the growing demand for robust data governance solutions as AI use expands in the enterprise.
As global regulators push for stricter data protection, enterprises are facing significant challenges in managing data privacy and security. Many are struggling to meet compliance with regulations like GDPR and emerging AI-related laws. According to KPMG, 76% of companies are concerned about data privacy when working with third-party partners. Relyance AI’s platform aims to solve these issues by offering integrated governance that combines privacy, security, and AI data protection, helping enterprises innovate while staying compliant.
Abhi Sharma, CEO and co-founder of Relyance AI, explained, “We’re making it possible for companies to demystify compliance challenges, such as GDPR and HIPAA, while enabling safe AI adoption. Our platform ensures that privacy and security are no longer seen as separate problems, but are addressed as a unified challenge.”
The company’s platform provides real-time visibility into data processing and ensures compliance with global privacy regulations. With its automated approach, Relyance AI empowers legal, security, and engineering teams to manage data governance efficiently. The company has already seen significant growth, with a 30% increase in its customer base and projections to double its revenue in 2024. High-profile clients include Coinbase, Snowflake, Logitech, and Notion.
Umesh Padval, Managing Director of Thomvest Ventures, praised Relyance AI’s innovative platform, stating, “Relyance AI empowers businesses to drive safe and responsible AI adoption while avoiding costly penalties. We are excited to support their mission to scale AI with trust and transparency.”
The new funding will be used to enhance the platform and scale go-to-market efforts as demand for comprehensive AI governance solutions continues to rise.
