Relyance AI, an artificial intelligence-powered data management platform, has announced that it has secured new funding. According to the information provided by Relyance AI, the company raised $32 million in its Series B investment round. This round was led by Thomvest Ventures.
In addition to Thomvest Ventures, the investment round also included participation from M12, Microsoft Ventures Fund, Cheyenne Ventures, as well as existing investors such as Menlo Ventures and Unusual Ventures.
It is worth noting that Relyance AI last received funding in September 2021, when it raised $25 million, led by Menlo Ventures and Unusual Ventures. With this latest investment of $32 million, Relyance AI has now raised a total of $62 million to date.
No information has been shared regarding the company’s current valuation. According to Relyance AI, the new funding will be used to expand the company’s operations.
Founded in 2020 by Abhi Sharma and Leila Golchehre in San Francisco, Relyance AI stands out as an AI-supported data management platform, offering users real-time visibility into their data.
Relyance AI helps its clients better understand where their data is located and how it is being used. After scanning users’ data, the platform can compare it against the policies outlined in the company’s contracts and regulations. Among its clients are Coinbase, Fivetran, Verkada, Snowflake, Logitech, Plaid, and Notion.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
