Formalize raised €15M in a Series A funding round led by BlackFin Capital Partners to expand its compliance software and target the $54B GRC market.
Mar 05, 2024•over 1 year ago
Amount Raised
$15 Million
Round Type
series a
DenmarkLegal TechInformation TechnologySoftwareInvestors
West Hill CapitalBlack Fin Capital Partners
Description
Formalize, previously known as Whistleblower Software, successfully raised €15 million ($16 million) in a Series A funding round led by BlackFin Capital Partners, with participation from West Hill Capital. The funding will fuel its expansion into the broader compliance software arena, aiming to offer a more integrated compliance solution to address the increasing regulatory challenges faced by businesses.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech