Relyance AI Inc., the developer of a platform that provides governance, visibility, and control over enterprise-wide data, has announced a $32.1 million Series B funding round.
The four-year-old startup, which previously raised $30 million in 2021, plans to use the funds to scale operations and meet the rising demand for greater transparency in the training and use of artificial intelligence models. Relyance is focused on helping organizations better understand where their data resides and how it is utilized in the face of increasing regulatory requirements.
The funding round was led by Thomvest Ventures, with participation from Microsoft’s M12 Ventures, Cheyenne Ventures, and existing investors Menlo Ventures and Integrity Venture Partners, also known as Unusual Ventures.