San Francisco, CA – October 10, 2024-Relyance AI recognized to be one of the leaders in obtaining clients through the marketing of its data governance technology advancements through AI, has reported today to secure $ 32 million in series B funding spearheaded by Thomvest Ventures, as well as a contribution from Microsoft’s M12 fund and other investors.
This round of funding saw investment in what was essentially a pre-ICA boom for AI and a busy working month for enterprises seeking to address the problems of privacy and compliance.
The platform for businesses guarantees data processing actions and compliance with privacy laws ranging from GDPR and HIPAA to more recent ones like the AI Act within the EU.
“The era of accepting subpar privacy, DSPM, and AI governance solutions is over. Relyance AI sets a new standard where data protection and innovation are not mutually exclusive,”
Said Abhi Sharma, CEO and co-founder of Relyance AI.
“It’s impossible to keep up with the current state of regulations, especially when GDPR, HIPAA, the EU’s AI Act, and a mosaic of local U.S. privacy laws are all different and sometimes at odds. We’re making it possible to demystify this and embolden the C-suite, engineers, and legal teams to urgently green-light AI in the enterprise with an integrated governance approach.”
Thomvest Ventures Managing Director Umesh Padval also praised the more efficient platform, as he explained:
“Relyance AI empowers Chief Privacy, Security, and Information Officers to manage data privacy and compliance, avoiding costly penalties while driving safe and responsible AI adoption.”
“We are excited to partner with CEO Abhi Sharma and his team, who have built a solution that transforms compliance into a competitive advantage, enabling businesses to scale AI with trust and transparency.”
Owing to how enterprises are still struggling with the shifts in regulatory environments, Relyance AI assumes as a promising instrument for organizations looking for achieving rapid growth in AI.
More news concerning the development of the platform should be anticipated as Relyance AI keeps on steady growth.
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