Whistleblower Software recently announced it had received a €15M Series A funding round, launched a new compliance operations platform and rebranded to its new name, Formalize.
BlackFin Tech led the funding round, the company’s most recent since a November 2022 funding round that enabled Formalize to expand from 20 employees to 90. Its newest injection of capital will help it further expand into Europe, the company said in a news release.
“Due to the increased data compliance regulations from the EU, the standard approach to compliance is no longer sustainable,” Formalize founder and CEO Jakob Lilholm said in the news release. “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.”
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