Relyance AI, a Mountain View, Calif.-based Privacy and Data Governance Ops solution provider, raised $30M in seed and Series A funding.
The latest round was co-led by Unusual Ventures and Menlo Ventures. In conjunction with the funding, Jyoti Bansal of Unusual Ventures, founder of AppDynamics, Harness and Traceable, joined the board with the funding while Menlo Ventures partner Matt Murphy joined as an observer. John Vrionis, co-founder and managing partner of Unusual Ventures, has been on the board since Relyance AI’s inception.
The company intends to use the funds to expand its engineering and sales teams and accelerate initial go-to-market motions.
Co-founded by Leila R. Golchehreh and Abhi Sharma, Relyance AI provides a complete privacy and data governance solution for the entire organization to collaborate on data protection and compliance on a single platform. Using machine learning, Relyance AI learns an organization’s contractual requirements and actual data processing at the code level and then provides visibility and insight needed to take action on critical privacy issues in real-time.
It is already seeing rapid customer adoption with brands such as Dialpad, Patreon, Samsara, ThriveTRM, True and dozens of others in production and proof-of-concept.
The company, which has 30+ staff members, has built an elite board of advisors, including Phil Lee, and is backed by other angel investors and advisors including Dev Ittycheria, CEO of MongoDB; Henry Ward, CEO of Carta; Rob Hull, Former CEO, Adaptive Insights; Meredith Halama, privacy chair at a major law firm and former compliance head at the Network Advertising Initiative; Ashok Banerjee, VP, Security & Privacy at VMWare and former CTO at Symantec; Susan Hintze, privacy lawyer, former privacy chair at Cooley LLP and privacy track leader at RSA; and Mike Hintze, privacy lawyer, former chief privacy counsel at Microsoft and senior fellow at the Future of Privacy Forum.
FinSMEs
20/09/2021