October 10, 2024: Relyance AI Secures $32M for Data Governance Enhancement - Relyance AI Inc. raised $32.1 million in a Series B funding round to enhance its AI data governance platform, aiming to address the growing demand for data transparency amidst increasing regulations. The platform scans organizational data, ensuring compliance with contracts and regulations, significantly reducing manual risk assessment efforts. Co-founder Abhi Sharma highlighted the complexity of navigating diverse regulations like GDPR and HIPAA. The funding round was led by Thomvest Ventures and included M12 Ventures Fund and others, as the startup anticipates doubling its annual recurring revenue in 2024.
