Variance
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Investors
Founders
About
Variance is an agentic AI platform that autonomously executes fraud, risk, compliance, and KYC/AML workflows for financial institutions and Fortune 500 companies 1. Founded by Karine Mellata and Michael Lin, who previously worked together on Apple’s fraud engineering and algorithmic risk team, the platform processes more than 70 million context signals per day and executes approximately 300,000 automated enforcement actions across customer environments 12.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-03-31 | Series A | $21.5M | Ten Eleven Ventures | 645 Ventures, Y Combinator, Urban Innovation Fund, Okta Ventures 12 |
Total raised to date: $26M 2.
Sources
What Investors Say
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What Founders Say
No verified founder quotes available at this time.
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BusinessWire, “Variance Raises $21.5M Series A to Transform Risk Workflows with AI Agents,” March 31, 2026. https://www.businesswire.com/news/home/20260331771752/en/Variance-Raises-$21.5M-Series-A-to-Transform-Risk-Workflows-with-AI-Agents↩↩↩
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Pulse2, “Variance: $21.5 Million Raised For AI Risk And Compliance Workflow Platform,” March 2026. https://pulse2.com/variance-21-5-million-raised-for-ai-risk-and-compliance-workflow-platform/amp/↩↩↩