Relyance AI, focused on increasing data transparency and helping companies meet governance compliance, raised $32 million in a Series B funding round on October 10.
The round was led by Thomvest Ventures, with participation from M12 (Microsoft Ventures Fund), Cheyenne Ventures, and existing investors Unusual Ventures and Menlo Ventures.
“We aimed to simplify the overlooked and complex space of data privacy and AI, where compliance challenges persist and customer trust diminishes,” said co-founder and CEO Abhi Sharma. Relyance AI’s platform offers a fresh approach to data governance by scanning an organization’s data – including third-party applications, cloud environments, AI models, and code repositories – to ensure alignment with policies.