FairNow, a McLean, Virginia-based provider of AI governance software, secured $3.5 million in seed funding.  

Investors  

The round was led by Somen Mondal and Shaun Ricci.  

FairNow Use of Funds  

The company will use the funding to accelerate its mission of equipping enterprises with a governance platform that manages AI-related business and regulatory risks.  

About FairNow  

Founded in 2023, FairNow provides an all-in-one AI governance platform designed to simplify and centralizes AI risk management at scale. Its platform empowers organizations to build, buy, and deploy AI with confidence. In addition to its technology solutions, FairNow is committed to educating and empowering organizations on AI governance, regulatory compliance, and building trust. FairNow is headquartered in McLean, Virginia.  

Funding Details                   

Company: FairNow, Inc.  

Raised: $3.5M              

Round: Seed Round

Funding Month: June 2024                                

Lead Investors: Somen Mondal, Shaun Ricci  

Additional Investors:  

Company Website: https://fairnow.ai/   

Software Category: AI Governance Solutions  

Source: https://www.businesswire.com/news/home/20240620579936/en/