Relyance AI, a San Francisco, CA-based provider of an AI-powered data governance platform, has secured $32.1 million in a Series B funding round.
Investors
The round was led by Thomvest Ventures, with participation from M12, Microsoft Ventures Fund, Cheyenne Ventures, and existing investors Unusual Ventures and Menlo Ventures.
Thomvest Ventures is a $750 million cross-stage venture capital fund based in Silicon Valley and Toronto. The fund invests across three areas: financial and real estate technology, cybersecurity and cloud infrastructure, and sales and marketing technology. Founded in 1996, Thomvest has invested in over 75 private companies since its inception.
Relyance AI Use of Funds
The funding will be used to develop Relyance AI's platform further and scale its go-to-market efforts in response to significant recent momentum.
About Relyance AI
Relyance AI provides an AI-powered data governance platform designed to give enterprises full visibility and control over their data. The platform helps businesses manage their data privacy, security, and compliance requirements across various regulatory frameworks, such as GDPR, HIPAA, and other privacy laws. Relyance AI's solution integrates data privacy, security, and compliance, serving customers including Coinbase, Snowflake, and Logitech.
Funding Details
Company: Relyance Inc.
Raised: $32.1M
Round: Series B
Funding Date: October 2024
Lead Investors: Thomvest Ventures
Additional Investors: M12, Microsoft Ventures Fund, Cheyenne Ventures, Unusual Ventures, Menlo Ventures
Company Website: https://www.relyance.ai/
Software Category: AI Data Governance
Source: https://www.prnewswire.com/news-releases/relyance-ai-raises-32-million-series-b-funding-to-safeguard-ai-innovation-in-the-enterprise-302272446.html