Variance builds an agentic AI platform for fraud and abuse investigations, KYC/KYB and compliance operations. Variance combines context-aware reasoning, structured SOPs (policy-as-code), and governed AI agents that can take action with configurable oversight (approvals, audit trails, and role-based controls). The result is faster, more consistent decisions across high-volume, high-stakes workflows, without sacrificing accountability.
Karine Mellata
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Co-founder & CEO
Michael Lin
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Co-founder & CTO
Founded
2023
Partnered
2026
Headquarters
San Francisco, CA
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Variance
News & Insights
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31 Mar 2026
Variance Raises $21.5M Series A to Transform Risk Workflows with AI Agents
New funding fuels platform growth as enterprises confront accelerating fraud, regulatory pressure, and AI-driven abuse
31 Mar 2026
Why We Invested in Variance
At Ten Eleven Ventures, we specialize in cybersecurity investments, focusing on the intersection of new technologies and their secure deployment. Right now, few areas sit more squarely at that intersection than agentic AI, and we think that risk and trust operations — including fraud investigations, business investigations, enhanced due diligence, know-your-customer workflows, and know-your-business workflows — are becoming among the next most impactful spaces to deploy these powerful capabilities, with a large potential market of over $200Bn between various risk and trust use cases.