Ethena

Ethena is a compliance software company that markets a platform of "AI compliance agents" for corporate ethics and compliance programs. Its four described agents are a Training Agent (builds and assigns training based on disclosure, case and policy data), a Disclosure Agent (processes conflict-of-interest, gift and outside-employment submissions via guided chat and drafts recommended responses), a Policy Agent (scans policies for gaps and overlaps and drafts updates), and a Third-Party Risk Agent (continuously screens vendors and partners against sanctions lists, regulatory actions, litigation and ownership changes). The company states a "compliance in the loop" principle under which agents draft, flag and suggest but a human compliance leader approves every change, response or escalation before it reaches employees.

Beyond the agents, Ethena offers an employee-facing Policy Bot chatbot answering policy questions from approved policies with source links, an anonymous ethics hotline with case management and audit trail, a phishing simulator that feeds risk data back into training assignment, and board-level reporting with built-in risk assessments and peer benchmarking. Its content library spans 200+ courses across categories including code of conduct, corporate ethics and ESG, anti-bribery and corruption/FCPA, whistleblower reporting, anti-money laundering (for banks, fintechs and MSBs), financial integrity and regulatory compliance (BSA, UDAAP, UK Consumer Duty), market integrity (antitrust, insider trading, crypto), export controls and sanctions, cybersecurity, data privacy (GDPR, CCPA), HIPAA, AI in the workplace, harassment prevention, HR, workplace health and safety, and government contracting (FAR, DFARS, TINA, False Claims Act). Courses are offered in region-specific versions for the US, Canada, EMEA, APAC and Latin America.

Customization options include editing text and images, adding company policies and branding, AI redlining for faster edits, uploading existing modules and decks, an AI Training Builder for creating courses from scratch, and audience segmentation by team, role or region. Historically, according to a 2022 press release, the product delivered bite-sized trainings over time via Slack or email.

Founding story

Per the company's about page, Roxanne (a military veteran) and Anne (a software engineer) met in 2019 and agreed workplace training could be much better, then started the business: Roxanne wrote content and Anne built the technology, and they booked their first customer within months. A 2022 press release identifies the founders as Roxanne Petraeus (CEO) and Anne Solmssen, citing backgrounds in the U.S. Army, consulting and startups.

Business model

Ethena sells subscription software to employers; its website lists pricing packages and directs prospects to sales conversations ("Let's Talk") and course sample requests rather than self-serve signup. The careers page positions the buyer as People, Legal and Compliance teams within organizations.

B2B software sold to organizations, with published pricing packages on the company website; specific pricing figures are not disclosed in the sources.

Traction

Company-reported figures include 2,000+ organizations served (3,000+ on the careers page), millions of employees covered, 200+ courses, a 93% approval rating from 5M+ learners, 60% average reduction in seat time, and 96% annual customer renewal. A June 2022 press release cited more than 50,000 active users completing training activities monthly.

Latest developments

The current website presents Ethena as a platform of four AI compliance agents with human approval required for every action, alongside Policy Bot, an ethics hotline with case management, a phishing simulator, board-ready reporting with peer benchmarking, and AI translation in 100+ languages. Organization counts cited on the site range from 2,000+ (homepage) to 3,000+ (careers page).