Ethena
Ethena is a New York-based SaaS company providing an AI-powered multi-agent compliance training platform to enterprise and mid-market organizations, serving 2,000+ customers and 5M+ learners with 200+ courses covering harassment, AML, data privacy, and ethics.
- Company typePrivate
- Founded2019
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Ethena does
Ethena is a New York-based SaaS company founded in 2019 that provides an AI-powered compliance training and ethics platform to enterprise and mid-market organizations. The platform is used by more than 2,000 organizations across technology, financial services, healthcare, manufacturing, education, nonprofit, and retail sectors, with training delivered to 5 million or more learners globally. Ethena sells primarily to Chief Compliance Officers, HR and People Operations leaders, and legal teams responsible for audit-ready ethics, conduct, and regulatory training programs, and it operates across North America, EMEA, APAC, and Latin America with localized content for US state mandates, FCA/PRA, EU GDPR, Singapore PDPA, and other regional requirements.
The company's core technology is a multi-agent AI compliance architecture combining four specialized agents — Training Agent, Disclosure Agent, Policy Agent, and Third-Party Risk Agent — each of which operates with a human-in-the-loop ('compliance in the loop') approval gate before any action is finalized. These agents draw on a proprietary library of 200-plus modular compliance courses spanning 15-plus categories (harassment prevention, anti-bribery, AML, data privacy, cybersecurity, DEIB, workplace safety, code of conduct) and are supplemented by an AI Training Builder that converts uploaded PDFs or slide decks into branded interactive courses, AI Translations that localize content into 100-plus languages, an AI-powered Policy Bot for employee Q&A, an ethics hotline with case management, a phishing simulator, and assignment automation that syncs with 100-plus HRIS platforms and 10-plus LMS systems via SCORM export.
Ethena monetizes through per-seat annual SaaS subscriptions priced via a quote-based sales motion, with direct enterprise field sales for organizations with 1,000-plus employees and inside sales plus product-led onboarding (via the AI Advisor and AI Training Builder) for mid-market and smaller deployments. The company reports SOC 2 Type II certification, WCAG accessibility compliance, and HIPAA training content availability, and is recognized as a G2 High Performer and Highest User Adoption leader in Ethics and Compliance Learning Software. Ethena has raised $50.4 million in venture funding across seed, Series A, and Series B rounds, with the most recent $30 million Series B closed in June 2022 led by Lachy Groom with participation from Felicis and Neo. The company is led by co-founder and CEO Roxanne Bras Petraeus and co-founder and CTO Anne Solmssen.
Ethena firmographics
Firmographics- Name
- Ethena
- Legal name
- Ethena
- Website
- https://goethena.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Ethena is a New York-based SaaS company providing an AI-powered multi-agent compliance training platform to enterprise and mid-market organizations, serving 2,000+ customers and 5M+ learners with 200+ courses covering harassment, AML, data privacy, and ethics.
- Ownership category
- akta.pro rank
Ethena industry classification
Industry- Product category
- Compliance Training Software
- NAICS
- Software Publishers (513210), Professional and Management Development Training (61143)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Enterprise AI Governance, Risk & Compliance Platforms (Model Risk, Audit, Policies) (HDAEANAE)
- akta.pro secondary industries
- AI Governance, Risk & Compliance (GRC) Platforms (HDAAAMAA), Cloud & SaaS Security Awareness (e.g., M365/Google Workspace) (EDABAGAG)
Keywords
Where Ethena is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Ethena business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Compliance Training Platform Subscription: SaaS subscription model providing access to AI compliance agents, 200+ course library, assignment automation, analytics, ethics hotline, case management, and phishing simulator. Pricing is per-seat, with annual billing, and scales with organization size and module selection.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise subscription with full platform access |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Ethena product offering
Product offeringCore offering
Ethena sells a SaaS compliance training platform that combines four AI agents (Training, Disclosure, Policy, Third-Party Risk) with a 200+ course library, an ethics hotline, case management, a phishing simulator, and HRIS-driven assignment automation. The platform is sold as a per-seat annual subscription to enterprises and mid-market organizations, and is also deployable inside existing LMS systems via SCORM export.
Product overview
Ethena is a platform of AI compliance agents offering a unified platform-plus-modules architecture. The core platform centers on four AI agents: Training Agent, Disclosure Agent, Third-Party Risk Agent, and Policy Agent, which work together to automate compliance workflows while maintaining human oversight. Supporting modules include Ethics Hotline & Case Management, Phishing Simulator, Reporting and Analytics, and Assignment Automation. The platform is powered by an AI Training Builder for custom course creation, AI Translations for localization, and Policy Bot for employee Q&A, all backed by a library of 200+ compliance training courses.
Differentiator
Problem solved
Functional benefit
Products and services
- Training Agent AI agent that builds compliance training from real disclosure, case, and policy data, draws on a 200+ course library, customizes content through prompts, and generates targeted training based on actual risk signals rather than calendar-driven schedules. Built for compliance and HR leaders at mid-market and enterprise organizations.
- Disclosure Agent AI agent that handles conflict of interest, gift, and outside employment disclosures end-to-end through conversational intake, reviews submissions against policies and prior decisions, drafts responses, and flags only what needs human judgment.
- Third-Party Risk Agent AI agent that continuously monitors vendors and partners for ethics and compliance exposures every day, screening against sanctions lists, regulatory actions, litigation, ownership changes, and adverse media, and scoring findings against vendor risk profiles.
- Policy Agent AI agent that scans entire policy libraries for gaps, overlap, and outdated language against current regulations and company precedent, drafts policy updates in company voice with citations, and routes changes for human approval.
- Ethics Hotline & Case Management Anonymous and named reporting channel accessible across web, phone, and chat with multi-language support. Every report opens a case with clear owner, status, and timeline, with routing, tasks, and notes tracked in one place from intake to resolution.
- Phishing Simulator Automated phishing campaign tool with 100+ realistic templates and randomized delivery timing that automatically assigns remediation training to employees who click phishing tests, generating real risk data for the Training Agent.
- Reporting and Analytics Compliance analytics dashboard providing real-time training visibility, knowledge gap identification, and pattern surfacing across training, hotline, and policy data.
- Assignment Automation Automated training assignment system that syncs employee rosters from 100+ HRIS platforms to automatically deliver the right training to the right learners at the right time, with automated reminders delivered via Slack and email.
- 200+ Course Library Library of 200+ modular compliance training courses covering harassment prevention, anti-bribery, AML, data privacy, cybersecurity, DEIB, workplace safety, and more, with industry- and region-specific variants covering 40+ geographic regions and all major US state harassment training requirements.
Quantifiable outcome
- 93% learner approval rating from 5M+ learners
- +4 more outcomes
Companies that use Ethena
Customer profileNamed customers23 records
Segments11 records
Ideal customer profiles3 records
Ethena technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration18 records
AI capability11 records
Feature10 records
Ethena partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered core and flagship.
- WorkdaycoreDeep HRIS integration partnership enabling automatic employee roster synchronization, role-based training assignment, and location-aware delivery. As employees join, move roles, or leave, training assignments update automatically without manual CSV uploads.
- DocebocoreLMS integration partnership allowing Ethena courses to be deployed within Docebo's learning management system via SCORM and standard formats.
- DegreedcoreLMS integration partnership allowing Ethena courses to be deployed within Degreed's learning experience platform via SCORM export.
- CornerstonecoreLMS integration partnership enabling Ethena content deployment within Cornerstone's talent management and learning platform.
- Absorb LMScoreLMS integration partnership allowing Ethena courses to be deployed within Absorb LMS via SCORM export.
- LearnUponcoreLMS integration partnership enabling Ethena course deployment within LearnUpon's learning management system.
- LitmoscoreLMS integration partnership allowing Ethena content deployment within Litmos via SCORM export.
- IntellumcoreLMS integration partnership for Ethena course deployment within Intellum's learning management platform.
- TalentLMScoreLMS integration partnership enabling Ethena content deployment within TalentLMS.
- LessonlycoreLMS integration partnership allowing Ethena training content to be deployed within Lessonly's training platform.
- WorkrampcoreLMS integration partnership for Ethena course deployment within Workramp's learning and enablement platform.
- Frances FreiflagshipCompliance advisor and board member. Harvard Business School Professor, TED podcast host, and best-selling author. Provides strategic guidance on compliance program design, organizational culture, and ethics leadership.
- Catherine RazzanoflagshipCompliance advisor with deep operational experience at Palo Alto Networks, former TikTok, and Panasonic. Brings enterprise compliance program design and implementation expertise.
- Jeannine LemkerflagshipCompliance advisor and former compliance leader at Meta and Microsoft. Brings large-scale enterprise compliance program experience to guide Ethena's platform development and customer program design.
- Dr. Marsha H. Ershaghi, CCEPflagshipCompliance advisor and former Managing Director at LRN. Provides expertise in ethics and compliance program architecture and organizational culture transformation.
- Melissa TidwellflagshipCompliance advisor and former Counsel at Reddit, Google, and Morrison Foerster. Brings legal and compliance expertise from major technology companies to guide Ethena's program design.
- Felipe Maldonado GarciaflagshipCompliance advisor with experience at Salesforce and formerly at Stericycle and Oracle. Brings enterprise compliance program expertise across multiple industries.
- Tim ErblichflagshipCompliance advisor and former CEO at Ethisphere, formerly at Thomson Reuters. Brings deep expertise in ethics and compliance measurement, benchmarking, and program assessment.
- Brandis AndersonflagshipIn-house General Counsel at Ethena and former Lead Counsel at Plaid. Provides legal expertise in compliance technology, fintech, and product development.
- Susan DiversflagshipIn-house compliance leader at Ethena and former Director of Thought Leadership at LRN. Provides expertise in compliance content development and thought leadership.
- SlackcoreIntegration for training assignment reminders and completion notifications delivered directly within Slack, meeting employees where they work. Part of Ethena's automated reminder system alongside email.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Ethena competitors and assessment
Company assessmentDirect peers
- Mineral (formerly ThinkHR): Mineral provides HR compliance, training, and policy content for mid-market employers. It was named alongside Ethena in G2's top ethics and compliance learning rankings and competes directly for the same HR buyer persona.
- KnowBe4: KnowBe4 is the largest security awareness and compliance training platform, serving enterprises with phishing simulation and a broad training library. It is a direct competitor to Ethena in cybersecurity awareness training and shares the same buyer (CISO, HR, compliance officer), making it the most directly comparable incumbent.
- NAVEX Global: NAVEX Global is a leading provider of ethics and compliance software including policy management, training, hotline, and third-party risk. It is one of the most entrenched incumbents in the same enterprise E&C category Ethena targets, with overlapping modules.
- LRN Corporation: LRN provides ethics and compliance training, advisory, and culture measurement to global enterprises. It directly competes with Ethena in ethics training and is named in Ethena's own advisory relationships, making it a close comparable.
- EasyLlama: EasyLlama is an emerging compliance training platform focused on harassment prevention and DEI, recently ranking alongside Ethena in G2's top ethics and compliance learning software lists. It directly overlaps Ethena's harassment prevention and state-mandated training offerings with a modern SMB-friendly UX.
Broad incumbents
- SAI Global: SAI Global provides compliance, risk, and learning solutions to regulated enterprises, including ethics training and policy management. It overlaps Ethena's training and policy modules but operates as a broader GRC and standards portfolio.
- OneTrust: OneTrust is a large enterprise privacy, security, and governance platform with training, policy, and vendor risk modules that compete with Ethena's Disclosure and Third-Party Risk agents at the enterprise end of the market.
- Docebo: Docebo is an enterprise LMS with a growing course marketplace and AI capabilities. Ethena integrates with Docebo via SCORM but also competes for the training delivery budget inside the same customer accounts.
- Absorb Software: Absorb LMS is a learning management platform with native compliance and training capabilities. It was named alongside Ethena in G2 rankings and serves overlapping mid-market and enterprise buyers.
Emerging players
- Workramp: Workramp is an LMS and training platform with employee onboarding and compliance training modules. It overlaps Ethena's mid-market compliance training wedge and competes for similar HR buyer budgets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Ethena social profiles
Digital presenceEthena compliance and trust
Trust signalCompliance3 records
Ethena financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ethena leadership team
Management profileNumber of profiles
Profiles5 records
Ethena funding detail
Funding detailFunding overview
Funding rounds5 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ethena M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ethena
What does Ethena do?
Ethena sells a SaaS compliance training platform that combines four AI agents (Training, Disclosure, Policy, Third-Party Risk) with a 200+ course library, an ethics hotline, case management, a phishing simulator, and HRIS-driven assignment automation. The platform is sold as a per-seat annual subscription to enterprises and mid-market organizations, and is also deployable inside existing LMS systems via SCORM export.
Is Ethena a public or private company?
Ethena is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ethena founded?
Ethena was founded in 2019. It employs 51 to 100 people.
Where is Ethena based?
Ethena is headquartered in New York, United States, in the North America region.
How does Ethena make money?
One revenue line is on record: compliance Training Platform Subscription.
Who are Ethena's main competitors?
Direct peers on record are Mineral (formerly ThinkHR), KnowBe4, NAVEX Global, LRN Corporation and EasyLlama. Broad incumbents are SAI Global, OneTrust, Docebo and Absorb Software. Workramp is listed as an emerging player.
Does Ethena have an API?
Yes. Ethena offers API access for organizations with advanced needs to sync training data with internal tools. The API enables custom reporting and can revoke system access for learners who do not complete training.
What industry is Ethena in?
Ethena's product category is Compliance Training Software. Its primary akta.pro industry code is HDAEANAE, Enterprise AI Governance, Risk & Compliance Platforms (Model Risk, Audit, Policies), with a secondary code of HDAAAMAA, AI Governance, Risk & Compliance (GRC) Platforms. Its NAICS code is 513210 and its SIC code is 7372.