Fairnow

FairNow is an enterprise AI governance platform founded in 2023 in McLean, Virginia. It helps organisations inventory internal models, vendor AI, and employee AI use cases; run AI risk assessments; map controls to frameworks like NIST AI RMF, ISO/IEC 42001, ISO 23894, and the EU AI Act; and generate audit-ready documentation and approval trails. The clearest public proof point is FairNow’s Cielo case study: Cielo used the platform to govern 50+ AI systems and complete ISO 42001 certification in 3.5 months with zero nonconformities. GOV.UK’s Department for Science, Innovation and Technology AI assurance catalogue independently describes FairNow as a ‘single source of truth’ for AI inventory, governance workflows, vendor AI risk management, and regulatory tracking. Funding is modest but real: FairNow announced a $3.5M seed round on June 20, 2024, while Technical.ly reported that total included $2.5M seed plus a converted $1M pre-seed. AuditBoard announced a definitive agreement to acquire FairNow on October 22, 2025; FairNow’s standalone product pages remained live as of March 9, 2026, so the product still appears to be operating as an independent brand inside AuditBoard. Legal relevance is mainly in-house: GC, legal ops, compliance, privacy, procurement, and risk teams that need an intake and evidence layer for AI governance. We found no law firm deployment evidence, little credible Reddit or review-site signal, and no public pricing.

Company Info

• Founded: 2023
• Team size: 1-10 employees
• Funding: $3.5M
• HQ: Canada
• Sector: Governance/Compliance/Risk Management

What We Haven’t Verified

This page was assembled from publicly available information. Feature claims and workflow mappings are based on what the vendor and third-party listings publish — not hands-on testing or practitioner feedback.