5th of March 2024

Whistleblower Software Raises a €15M Investment & Launches “Formalize”

From whistleblowing to compliance operations - Our new platform automates compliance operations across various regulations, ensuring efficiency and reliability every step of the way.

Our mission has always been to enable companies to spend less time on compliance and derive greater value from it. As we expand our support to customers and partners beyond whistleblowing – our company name transitions from Whistleblower Software to Formalize. This change is more than just a new name; it's a symbol of our commitment to propelling the industry forward.

Our journey as Whistleblower Software

Whistleblower Software has long been the preferred choice by many compliance professionals, recognized as the market-leading solution by G2, and available to 5.000.000+ employees worldwide spanning top law firms, compliance consultants, and companies of all sizes. Our system offers a secure, user-friendly, and safe reporting space.

Moving forward, Whistleblower Software will operate under the name Whistleblower Software by Formalize and will remain an integral part of our identity and vision. We remain committed to enhancing the software, as usual, to deliver the finest whistleblower system available.

Introducing

Formalize is an intuitive yet comprehensive compliance operations platform designed to streamline compliance workflows and automate processes for a variety of frameworks and regulations, including NIS2, GDPR, ISO27001, SOC2, and more.

Throughout 2023 we have witnessed steady growth of the platform, with great feedback from our customers, and we are now prepared for the public launch.

The platform is specifically designed to connect the dots across compliance frameworks and regulations. You can expect a next-generation platform with seamless integration of compliance-related processes, tailored to meet your organization's unique requirements.

Formalize is designed to be intuitive, user-friendly, and highly customizable, providing the ideal foundation for optimal compliance operations.

Due to the increased compliance regulations from the EU, the standard approach to compliance is no longer sustainable. By automating large parts of the compliance processes, Formalize can help companies ease the work without compromising security and the ability to customize the platform to the company's specific needs.

Jakob Lilholm

CEO at Formalize

Announcing a €15M Series A investment

We are excited to announce the successful completion of our Series A funding round, securing €15M led by BlackFin, one of Europe's largest private equity funds. Our gratitude extends to our investors who recognize the great potential in Formalize and the market in general, sharing our vision.

"With the increased demands being placed on organizations across the EU, the potential to automate compliance processes and reporting is huge. Formalize has proven with its whistleblower software that they can create a user-friendly and market-leading product, bringing every professional closer to a work life where they can save time while always staying on top of compliance and regulatory requirements," says Michele Foradori, Investment Director at BlackFin.

Looking ahead, we are exceedingly enthusiastic about the coming year and the trajectory our journey will take. Our team is set to further expand and we are eager to enhance our strategic partnership program, collaborating with established names in the compliance and audit sector, further to refine the approach to compliance.

Commitment to our Customers and Partners

We retain a robust vision for our whistleblowing system, Whistleblower Software by Formalize, and have great plans to further advance the experience of the product to continually elevate the industry.

The inception of Formalize was ignited by the feedback and needs of our partners and customers, who sought our assistance in addressing evolving compliance challenges beyond whistleblowing. Formalize embodies this ongoing evolution, but also our commitment to keep doing what we do best: Build leading, intuitive, customizable, and secure compliance solutions.

As we embrace Formalize, we invite you to join us on this exciting journey. Discover how our approach to compliance can empower your organization. With Formalize, compliance is not just about meeting standards; it's about setting new ones and exceeding expectations.

Sincerely,

The Management Team of Formalize