AuditBoard, the leading AI-powered platform for connected risk, has announced a definitive agreement to acquire FairNow, an end-to-end AI Governance (AI Gov) platform. This strategic acquisition, coupled with the launch of AuditBoard's new Accelerate AI solution, is designed to create a comprehensive, unified platform that empowers organizations to manage AI-related risks and stay compliant with expanding global regulations.
Quick Intel
AuditBoard acquires AI Governance platform FairNow to expand its risk management capabilities.
The move is coupled with the launch of AuditBoard's new AI solution, Accelerate.
It addresses a critical gap, as fewer than 30% of leaders feel prepared for AI governance.
FairNow's platform offers an AI registry, risk assessments, and automated compliance.
The integration creates a unified solution for frameworks like NIST and the EU AI Act.
The acquisition aims to solidify AuditBoard's position as a leader in AI-powered GRC.
Addressing the Critical AI Governance Gap
The acquisition comes at a pivotal time as businesses rapidly adopt AI while facing a growing web of global compliance requirements. According to AuditBoard's own research, fewer than 30% of leaders feel prepared for upcoming AI governance mandates, highlighting a significant execution gap. FairNow's platform directly addresses this by enabling organizations to simplify end-to-end AI governance with a streamlined AI registry, dynamic risk assessments, and intelligent, automated compliance guidance.
Creating a Unified, AI-First Risk Platform
The integration of FairNow will enhance AuditBoard's industry-leading Connected Risk Platform. By combining FairNow's dedicated AI Governance capabilities with AuditBoard's natural-language workflows, continuous monitoring, and newly launched Accelerate AI solution, the company is creating a truly end-to-end platform for managing modern enterprise risk. Raul Villar Jr., CEO of AuditBoard, stated, "Integrating FairNow into AuditBoard's Connected Risk Platform delivers the most comprehensive and modern solution on the market, directly addressing the enormous risks that come alongside this technology."
A Strategic Move for Market Leadership
This acquisition is a strategic step to leapfrog competitors and provide customers with a single, intelligent solution for all their governance, risk, and compliance (GRC) needs. It reflects AuditBoard's commitment to both AI innovation and safety. Guru Sethupathy, CEO and Founder of FairNow, said, "Our mission to simplify AI governance will be accelerated with AuditBoard, the clear leader in AI-powered connected risk. Joining AuditBoard is the logical next step in our journey to scale our impact."
The acquisition of FairNow marks a significant consolidation in the GRC software market. By unifying core risk management with specialized AI governance, AuditBoard is positioning itself as an indispensable partner for enterprises navigating the complexities of responsible AI adoption, ensuring they can innovate quickly while maintaining trust and compliance.
AuditBoard is the leading AI-powered GRC platform, transforming the way the world's biggest companies manage risk. More than 50% of the Fortune 500 trust AuditBoard to elevate their audit, risk, and compliance management. AuditBoard is top-rated by customers on G2, Capterra, and Gartner Peer Insights, and was recently ranked for the sixth year in a row as one of the fastest-growing technology companies in North America by Deloitte.
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