AuditBoard, the leading AI-powered global platform for connected risk transforming audit, risk, and compliance, announced it has reached a definitive agreement to acquire FairNow, an end-to-end, purpose-built AI Governance (“AI Gov”) platform. FairNow further enhances AuditBoard’s industry leading capabilities with intelligent, automated, and step-by-step AI compliance guidance. With AI Governance requirements expanding globally, AuditBoard customers are now uniquely positioned to stay compliant and mitigate AI-related risks.
This acquisition is coupled with the release of Accelerate AuditBoard’s powerful, new AI solution for GRC teams, also announced today. The integration of FairNow’s dedicated AI Governance solution aligns with the strong foundation of AuditBoard’s natural-language workflows, continuous auditing and monitoring, document intelligence, and agentic AI,creating a truly end-to-end AI-powered platform for managing risk. All of which builds on AuditBoard’s existing commitment to both AI innovation and safety following the announcement of its first AI governance solution earlier this year.
FairNow’s platform enables organizations to simplify their end-to-end AI governance with a streamlined AI registry, dynamic risk assessments, and intelligent automated compliance. This unified offering directly addresses the execution gap in AI governance. A key finding in AuditBoard’s Risk Intelligence Report, released just last week, identified that fewer than 30% of leaders feel prepared for upcoming AI governance requirements, indicating a lack of clear ownership that undermines trust. For many organizations this means seeking compliance with frameworks such as the NIST AI Risk Management Framework, ISO/IEC 42001, and the EU AI Act, which provide structured guidelines for responsible AI development and deployment by addressing areas like fairness, transparency, risk management, and data governance.
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“The speed of AI adoption has made robust, connected AI governance a mission-critical function for enterprises across every industry,” said Raul Villar Jr., CEO of AuditBoard. “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. Combined with the launch of Accelerate, this acquisition will set AuditBoard apart by leapfrogging nascent competitive offerings and empowering our customers to transform their risk and compliance programs.”
Guru Sethupathy, CEO and Founder of FairNow, echoed this excitement. “FairNow believes that governance will be the key enabler in the age of AI – managing risks while building trust and driving adoption,” said Sethupathy. “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. We look forward to working with the AuditBoard team to solidify the platform’s position as the global go-to solution for modern risk management – intelligent, automated, and connected.”
Source: AuditBoard
