AuditBoard, the leading AI-powered platform transforming audit, risk, and compliance, announced a definitive agreement to acquire FairNow, an end-to-end, purpose-built AI Governance (“AI Gov”) platform. This strategic acquisition enhances AuditBoard’s market-leading capabilities by delivering intelligent, automated, step-by-step AI compliance guidance. As AI governance requirements expand globally, AuditBoard customers are now uniquely positioned to mitigate AI-related risks and maintain regulatory compliance.
The acquisition coincides with the launch of Accelerate, AuditBoard’s powerful new AI solution for GRC teams, also announced today. By integrating FairNow’s dedicated AI Governance platform with AuditBoard’s natural-language workflows, continuous auditing, document intelligence, and agentic AI, the company creates a comprehensive, end-to-end AI-powered platform for managing enterprise risk. This builds on AuditBoard’s ongoing commitment to AI innovation and safety, following the release of its first AI governance solution earlier this year.
FairNow’s platform streamlines AI governance through an AI registry, dynamic risk assessments, and automated compliance workflows, helping organizations close the execution gap highlighted in AuditBoard’s recent Risk Intelligence Report, which found that fewer than 30% of leaders feel prepared for upcoming AI governance requirements. The platform supports compliance with global frameworks, including the NIST AI Risk Management Framework, ISO/IEC 42001, and the EU AI Act, providing structured guidance on 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, added, “FairNow believes that governance will be the key enabler in the age of AI—managing risks while building trust and driving adoption. 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.”