FAIRLY AI

What FAIRLY AI does

Fairly AI is a Kitchener, Ontario-based AI governance software provider founded in 2020 that has operated under the Asenion brand since its June 2025 acquisition of Swedish anch.AI. The company's core product is an AI Trust, Risk, and Security Management (AI TRiSM) platform that delivers three integrated capabilities—Assess, Test, and Assure—across the AI lifecycle. Underlying technology includes patent-pending automated controls aligned with EU AI Act, ISO/IEC 42001, NIST AI RMF, and Colorado AI Act, adversarial and behavioral testing for AI vulnerabilities, and runtime governance for agentic AI and LLM systems. The platform is built on a living, regulation-mapped architecture that continuously evaluates AI agents, models, and data against evolving obligations, and the company itself maintains ISO/IEC 42001, ISO 27001, and SOC 2 Type 2 certifications.

The platform serves three primary customer segments: AI-native product companies (startups/SMBs embedding LLMs into core products, served via AI-Compliance-in-a-Box), regulated and high-stakes industries (financial services, legal, HR tech, healthcare, insurance), and enterprises scaling multi-agent AI systems. Named enterprise customers include UBS (deployed on private cloud in under 8 days), ATB Financial, SAS Institute, Telia Company, Swedish Tax Agency, and BSI. The business model is predominantly subscription-based SaaS with annual billing and quote-based pricing for enterprise contracts, supplemented by professional services for implementation and ISO 42001 certification support. Distribution is hybrid: dedicated enterprise field sales for large regulated buyers and self-serve onboarding for the startup/SMB segment.

Revenue and growth signals suggest a still-small but scaling company. Total disclosed equity funding across four rounds through 2023 amounts to roughly $1.63 million (largest: $911K Flybridge/Founder Institute in June 2021; $600K in November 2022; $120K Techstars Toronto in July 2023), implying the company has been substantially bootstrapped or has undisclosed funding sources. The anch.AI acquisition and the recent Asenion rebrand, combined with consecutive IDC MarketScape "Major Player" recognition from 2023 through 2026 and Gartner AI TRiSM representative vendor status across four categories, indicate the company has built meaningful credibility in the AI governance category despite a modest capital base.

Name

FAIRLY AI

Legal name

Fairly AI

Website

https://fairly.ai

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Fairly AI (Asenion) provides an AI Trust, Risk, and Security Management platform that automates compliance with EU AI Act, ISO/IEC 42001, NIST AI RMF, and Colorado AI Act, serving enterprises, regulated industries, and AI-native startups.

Ownership category

akta.pro rank

Product category

AI Governance Software

NAICS

Software Publishers (5132), Computer Systems Design Services (541512)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Enterprise AI Governance, Risk & Compliance Platforms (Model Risk, Audit, Policies) (HDAEANAE)

akta.pro secondary industries

Regulatory Readiness & Audit Automation (e.g., EU AI Act, NIST AI RMF, ISO/IEC 42001) (HDAAAMAE), AI Observability, Monitoring & Evaluation Platforms (Drift, Quality, Safety) (HDAEANAF), Bias, Fairness & Non-Discrimination Testing (HDAAAMAC), Safety & Alignment Evaluation (red-teaming, harmful capability testing) (HDAAAMAL)

Keywords

• AI governance platform
• AI risk management
• AI compliance software
• AI trust and security
• AI TRiSM

Headquarters

HQ city

Kitchener

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Enterprise AI Governance Platform: Subscription-based SaaS platform for enterprise AI governance, risk, and security management. Provides Assess, Test, and Assure capabilities aligned with ISO 42001, NIST AI RMF, and EU AI Act.
2. AI-Compliance-in-a-Box: Self-serve package for startups and SMBs requiring AI compliance solutions.
3. Professional Services: Implementation and consulting services for enterprise deployments, including ISO 42001 certification support.

Pricing tiers

Go-to-market motion4 records

Distribution channels3 records

Marketing channels7 records

Core offering

FAIRLY AI operates the Asenion platform, a next-generation AI Governance Platform providing end-to-end AI Trust, Risk, and Security Management (AI TRiSM). It enables organizations to assess AI systems against ISO/IEC 42001, NIST AI RMF, and EU AI Act standards, conduct adversarial and behavioral testing, and provide runtime governance for agentic AI and LLM systems. The platform serves enterprises in regulated industries as well as startups and SMBs embedding AI into their products.

Product overview

FAIRLY AI operates under the Asenion brand as an AI governance platform provider. The product portfolio centers on Asenion, a next-generation Enterprise AI Governance Platform that provides AI Trust, Risk, and Security Management (AI TRiSM) through three core capabilities: Assess (evaluating AI systems against ISO 42001, NIST, and EU AI Act standards), Test (adversarial and behavioral testing for vulnerabilities), and Assure (runtime governance for agentic AI and LLM systems in production). The platform serves enterprises, regulated industries (financial services, healthcare, HR tech, legal), and startups/SMBs through modular solutions including Enterprise Agent Management, AI-Compliance-in-a-Box, and specialized solutions for HR Bias Audit, Fair Lending, Mental Health, Red Teaming, EU AI Act, and Colorado AI Act compliance. FAIRLY AI acquired Swedish startup Anch.AI in June 2025 and rebranded the combined entity as Asenion.

Differentiator

Problem solved

Functional benefit

Products and services

• Asenion Enterprise AI Governance Platform Next-generation AI Governance Platform providing end-to-end AI Trust, Risk, and Security Management (AI TRiSM) with Assess, Test, and Assure capabilities for evaluating and governing AI systems across the entire lifecycle, aligned with EU AI Act, ISO/IEC 42001, and NIST AI RMF.
• Enterprise Agent Management Governance solution for managing multi-agent AI systems at enterprise scale, providing third-party assurance, visibility, and oversight to manage systemic AI risk across multiple AI deployments.
• AI-Compliance-in-a-Box (Startups & SMBs) Self-serve AI compliance package designed for startups and SMBs embedding LLMs or AI agents into core products, providing rapid AI compliance and certification readiness.
• ISO/IEC 42001 Solution Solution enabling organizations to achieve ISO/IEC 42001 AI Management System certification through automated assessment and compliance workflows, with rapid certification support demonstrated in as fast as 7 days.
• EU AI Act Solution Governance solution helping organizations prepare for and comply with EU AI Act requirements, including risk classification, transparency obligations, and audit readiness.
• Colorado AI Act Solution Compliance solution addressing Colorado AI Act requirements for algorithmic accountability and consumer protection in high-risk AI systems.
• HR Bias Audit Audit solution for evaluating bias in HR technology and AI-powered hiring systems to ensure compliance with fair employment regulations.
• Fair Lending Solution for financial institutions to ensure AI-powered lending decisions comply with fair lending laws and regulations.
• Mental Health AI Governance Solution Governance solution for AI systems in mental health applications, ensuring safety, ethical deployment, and regulatory compliance.
• AI Red Teaming & Jailbreaking Audit

Quantifiable outcome

• ISO 42001 certification achieved in 7 days
• +1 more outcomes

Named customers25 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

14 partnerships are on record, tiered flagship, core and minor.

• Anch.AI (acquired)flagshipOthers · 18 June 2025Fairly AI acquired Swedish startup Anch.AI in June 2025 to launch Asenion. The acquisition combined Anch.AI's EU AI Act governance sandbox with Fairly AI's platform to create a next-generation AI governance platform.
• IBM watsonx.aicoreTechnology or Integration · 12 June 2025Fairly AI and IBM watsonx.ai deliver next-level AI governance and security integration. IBM watsonx.governance is featured as an AI governance platform competitor in the market, while Fairly AI maintains integration capabilities with IBM's AI ecosystem.
• GuruLinkcoreTechnology or Integration · 25 November 2024GuruLink achieved ISO/IEC 42001 Certification through Fairly AI's platform in just 7 days, demonstrating Fast-Track certification capabilities. GuruLink AI Trust Center is powered by Fairly AI.
• ATB FinancialflagshipStrategic or Co-development Partner · 13 November 2024FAIRLY AI joined forces with ATB Financial, Standards Council of Canada (SCC), and Responsible AI Institute for groundbreaking ISO/IEC 42001 pilot in Canada. This landmark collaboration aimed to establish AI management system standards in the Canadian financial sector.
• Standards Council of Canada (SCC)flagshipStrategic or Co-development Partner · 13 November 2024SCC partnered with Fairly AI for the historic launch and pilot of ISO/IEC 42001 AI Management Systems Standard in Canada, alongside ATB Financial and Responsible AI Institute.
• Responsible AI InstituteflagshipStrategic or Co-development Partner · 13 November 2024Responsible AI Institute collaborated with Fairly AI, ATB Financial, and SCC for the ISO/IEC 42001 pilot in Canada, contributing to the historic launch of the AI management systems standard.
• MicrosoftminorStrategic or Co-development PartnerMicrosoft co-member with Fairly AI in AI Sustainability Center initiatives for responsible AI development across industries. Part of broader industry cooperation on AI sustainability.
• SAS InstitutecoreStrategic or Co-development PartnerSAS Institute is a member of Asenion (formerly anch.AI) AI Act Governance Sandbox, keeping updated from regulatory perspective and using safe testing environment for AI governance.
• Swedish Tax AgencycoreStrategic or Co-development PartnerTrusted partner of three years supporting the Swedish Tax Agency to achieve ethical AI through transparency and alignment across their organization. No ethical risk exposure is tolerated in their AI projects.
• Swedish Employment AgencycoreStrategic or Co-development PartnerAsenion (formerly anch.AI) is a crucial partner for preparing and auditing AI in anticipation of EU AI Act requirements. Cross-functional engagements and new governance around AI are required.
• Telia CompanyminorStrategic or Co-development PartnerMulti-stakeholder collaboration with Telia Company to share experiences and ensure AI development follows the most responsible path across industrial IoT, smart city, and smart home services.
• Soya GroupcoreStrategic or Co-development PartnerAsenion (formerly anch.AI) was the right choice for Soya Group to develop and implement AI the right way and in the right order, ensuring ethical AI practices from the start.
• Combient MixcoreStrategic or Co-development PartnerCombient Mix uses Asenion (formerly anch.AI) to dismantle silos between tech, business and legal through its intuitive framework, moving beyond compliance into AI solutions worthy of a sustainable digital future.
• Fairly TrainedminorOthersEd Newton-Rex, founder of Fairly Trained (an organization focused on ethical AI built with artist permission), called Spotify's AI music partnership a potentially positive step toward ethical AI.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Credo AI: Direct competitor offering an AI governance, risk and compliance platform with similar regulatory-alignment positioning (EU AI Act, NIST, ISO 42001) and enterprise GTM.
• Holistic AI: Direct competitor providing an AI governance, risk and compliance platform for enterprises, with overlapping capabilities in AI risk assessment, auditing, and policy management.

Regional players

• Saidot: Nordic-based AI governance platform focused on transparency and EU AI Act readiness; highly comparable in regulatory alignment and customer base, with a primary geographic concentration in the Nordics.

Broad incumbents

• IBM watsonx.governance: Enterprise-scale AI governance suite embedded within IBM's broader watsonx platform; explicitly named as a competitor in Fairly AI's market and a partner in adjacent ecosystem initiatives.
• Microsoft Purview AI Hub / Azure AI Content Safety: Hyperscaler-scale AI governance and risk offerings bundled with Microsoft 365 and Azure; serves a similar enterprise buyer for compliance and audit, with massive bundling and pricing advantages.
• OneTrust: Large GRC and privacy platform that has expanded into AI governance; competes for the same enterprise compliance budget with broader trust, privacy, and risk management capabilities.
• Collibra: Data intelligence and governance platform with growing AI governance capabilities; comparable buyer profile (large enterprises, regulated industries) and overlapping audit/policy use cases.
• SAS Institute (AI Governance / Model Risk): Large analytics and model risk management vendor with AI governance offerings; already a member of Asenion's AI Act Governance Sandbox and a customer, illustrating the bidirectional competitor-partner dynamic.

Emerging players

• Monitaur: AI governance and model risk management platform targeting regulated industries; comparable mid-market positioning and feature overlap in audit, monitoring, and policy management.
• Enzai: AI governance, risk and compliance SaaS focused on operationalizing responsible AI; comparable in target use case (enterprise AI risk management) and regulatory-alignment narrative.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/fairlyai
• LinkedInlinkedin.com/company/fairlyai

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FAIRLY AI