Variance
YC W23San Francisco, US · Founded 2022 · Delaware corporation · 12 employees · Hiring · 7 known investors
Variance provides AI agents that conduct financial crime investigations for regulated institutions, automating evidence collection and analysis across compliance levels while maintaining audit trails and explainability.
Also known as Decoy · Intrinsic
AI & Machine LearningCybersecurityEnterprise SoftwareFintechArtificial IntelligenceComplianceUnited States of AmericaAmerica / Canada
Founders & leadership· Y Combinator alumni (W23)
Variance was founded in 2022 by Karine Mellata, Michael Lin, James Gross, and Noah Brier.
KM
Karine Mellatain𝕏Co-Founder & CEOKarine Mellata is a co-founder at Variance, formerly known as Intrinsic.
ML
Michael LininCo-founder · CTOMichael Lin is a co-founder at Variance, where he works on AI agents for investigations and fraud reviews.
JG
James GrossCo-founder
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Noah BrierCo-founder
Board
SS
Steve SchlafmanBoard director
Investors · 7
645 VenturesNew York · $1M – $5M
Ten ElevenBurlingame · $3M – $15M
Urban InnovationSan Francisco · $500K – $3.5M
Y CombinatorSan Francisco · $500K
Okta Venturesreported · 2 sourcesSan Francisco · $200K – $1M
RRE LeadersreportedNew York
Also in the syndicate · 1
Urban Innovation Fund
Funding
SEC filings, press & company announcements$5.1M disclosed across 1 of 4 rounds · 2019–2026
- Undisclosed amountSeries AApr 2026Source ↗
- Undisclosed amountSeries AMar 2026
Ten Eleven Ventures (lead), 645 Ventures, Okta Ventures, Urban Innovation Fund, Y Combinator
Source ↗ - Undisclosed amountSeedJan 2024Source ↗
▶$5.1MraisedMay 2019 · 14 investors · Other TechnologyRule 506(b)
▶$5.1MraisedMay 2019 · 14 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- James GrossExecutive Officer, Director
- Steve SchlafmanDirector
- Noah BrierExecutive Officer, Director
- Offering amount
- $5.1M
- Amount sold
- $5.1M
- First sale
- May 2019
- Incorporated
- Corporation, Delaware, 2019
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Competitors · 3
by search overlap
Netezza7 shared keywordsIBM is a global technology company whose business spans enterprise software (including Red Hat, HashiCorp, and Confluent), IT infrastructure such as mainframes, servers, and storage, and IT consulting services. The company is also investing heavily in quantum computing and AI-based enterprise offerings, including its Lightwell open-source software security clearinghouse and the Anderon quantum wafer foundry.
Covariantai6 shared keywordsAI software using deep imitation and reinforcement learning to teach robots complex skills.
Preczn4 shared keywordsPreczn is a payments infrastructure platform built for Vertical SaaS companies, letting them own their payment stack, migrate merchant and card data, and manage multiple processors from a single control layer. It aims to reduce processor lock-in, lower operating costs, and speed merchant onboarding and revenue growth.
Companies competing with Variance for the same Google search keywords, organic and paid, via search-intersection analysis.
In the news
Frequently asked questions
- What does Variance do?
- Variance provides AI agents that conduct financial crime investigations for regulated institutions, automating evidence collection and analysis across compliance levels while maintaining audit trails and explainability.
- Who founded Variance?
- Variance was founded by Karine Mellata, Michael Lin, James Gross, Noah Brier in 2022.
- Who are Variance's investors?
- Variance's investors include 645 Ventures, Ten Eleven, Urban Innovation, Y Combinator, Okta Ventures, RRE Leaders.
- How much funding has Variance raised?
- Variance has disclosed $5.1M raised across 1 of its 4 known rounds.
- Where is Variance headquartered?
- Variance is headquartered in San Francisco, US.