Fairly

AI Safety & Security

Fairly AI, now operating under the brand Asenion, is a Canadian AI governance platform provider founded in 2020.

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Fairly AI provides software that helps organizations manage the risks, compliance, and security of their artificial intelligence systems.

Fairly AI, now operating under the brand Asenion, is a Canadian AI governance platform provider founded in 2020. The company offers software for AI trust, risk, and security management (AI TRiSM), targeting both large enterprises and startups. Its platform is designed to help organizations comply with emerging regulations like the EU AI Act and standardize model risk management.

Fairly AI has been recognized as a major player in the IDC MarketScape for Worldwide AI Governance Platforms for 2023, 2024, 2025, and 2026, and is listed as a representative vendor in four Gartner AI TRiSM categories. The company has undergone a rebranding to Asenion, consolidating its identity after acquiring or merging with anch.AI, a European AI governance startup. Customer testimonials on its website include references to a global tier-1 bank and a regional bank, as well as public sector clients in Sweden such as the Swedish Tax Agency and the Swedish Employment Agency.

The company won the RAISE Leading Startup Award in 2022 from the Responsible AI Institute and the UBS Future of Finance Challenge Tech and Cyber Security award in 2021. Despite the rebranding and analyst recognition, Fairly AI has not publicly disclosed recent funding rounds, revenue figures, or headcount. The broader AI governance market is growing rapidly, driven by regulatory pressure and enterprise AI adoption, but Fairly AI faces competition from larger vendors and must navigate the challenge of proving its value proposition in a consolidating market.

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Who buys this

  • Large financial institutions (e.g., global tier-1 banks, regional banks)
  • Government agencies (e.g., tax authorities, employment agencies)
  • Global consulting firms
  • Enterprises in regulated industries (e.g., telecom, legal)
  • Startups and small-to-medium businesses

Publicly disclosed clients

  • Swedish Tax Agency
  • Swedish Employment Agency
  • Telia Company
  • SAS Institute
  • Cirio Law Firm
  • Combient Mix
  • Soya Group

Strengths and what to watch

Strengths

  • Recognized as a major player in IDC MarketScape for AI governance platforms for four consecutive years (2023-2026).
  • Listed as a representative vendor in four Gartner AI Trust, Risk and Security Management (AI TRiSM) categories.
  • Customer testimonials indicate rapid deployment (under 8 days on private cloud) and use by large financial institutions and government agencies.

Watch for

  • The company has undergone a rebranding from Fairly AI to Asenion, which may cause market confusion or signal a pivot in strategy.
  • No recent funding rounds, revenue figures, or headcount have been publicly disclosed, making it difficult to assess financial health or growth trajectory.
  • The AI governance market is becoming crowded with larger players (e.g., from cloud providers and established risk management firms), increasing competitive pressure.

Key Information

Industry
AI Safety & Security
Founded
2020

Frequently Asked Questions

What is Fairly AI and what does it do?

Fairly AI, now operating as Asenion, is a Canadian AI governance platform provider founded in 2020. It offers software for AI trust, risk, and security management, helping organizations manage risks, compliance, and security of their AI systems.

How does Fairly AI help with EU AI Act compliance?

Fairly AI's platform is designed to help organizations comply with emerging regulations like the EU AI Act. It standardizes model risk management and provides tools for AI governance, enabling enterprises to meet regulatory requirements and manage AI-related risks effectively.

Who are Fairly AI's main customers?

Fairly AI serves large financial institutions like global tier-1 banks, government agencies such as the Swedish Tax Agency, and enterprises in regulated industries including telecom and legal. It also works with global consulting firms and startups.

What analyst recognition has Fairly AI received?

Fairly AI has been recognized as a major player in the IDC MarketScape for Worldwide AI Governance Platforms for 2023 through 2026. It is also listed as a representative vendor in four Gartner AI Trust, Risk and Security Management categories.

Why did Fairly AI rebrand to Asenion?

Fairly AI rebranded to Asenion to consolidate its identity after acquiring or merging with anch.AI, a European AI governance startup. The rebranding may cause market confusion or signal a strategic pivot, but the company continues to offer the same AI governance platform.

What are the strengths and challenges of Fairly AI?

Strengths include rapid deployment under 8 days on private cloud and strong analyst recognition. Challenges include no publicly disclosed recent funding rounds or revenue, and increasing competition from larger vendors in a consolidating AI governance market.

Sources

  1. www.fairly.ai — Company description, product offerings, customer testimonials, analyst recognition (IDC MarketScape, Gartner), awards, and rebranding to Asenion.
  2. blogs.nvidia.com — Context on enterprise AI adoption rates (64% actively using AI) and market trends, though not specific to Fairly AI.
  3. techcrunch.com — Market context: VCs predict enterprises will consolidate AI vendors in 2026, increasing competition for governance platforms.
  4. techcrunch.com — Context on AI funding landscape in 2026; Fairly AI is not listed among companies raising $100M+ rounds.