Formalize
PrivateLast Round
Series B
Oct 28, 2025
Total Funding Raised
$51.67M
Company Overview
Formalize, formerly known as Whistleblower Software, is a Danish software-as-a-service (SaaS) company founded in 2021. The company provides a comprehensive compliance operations platform that helps businesses manage governance, risk, and compliance (GRC). Its services include whistleblowing management and automation for various regulatory standards such as GDPR, NIS2, DORA, and ISO 27001. Headquartered in Aarhus, Denmark, the venture-backed company is expanding its presence across Europe.
Sector
Enterprise Software
Verticals
Compliance & Risk, RegTech, Data Governance, Data Protection
Business Model
B2B
Customer Profile
Subscription SaaS, Services & Consulting, Freemium
AI Layer
Non-AI
Keywords
Historical Pricing
Historical view of private secondary pricing and transaction trends.
Formalize Comps
Public and private peers based on sector, stage, and business model.
Formalize Funding Rounds
Historical fundraising activity
| Round | Date | Amount Raised | Valuation | Investors | Sources |
|---|---|---|---|---|---|
| Series B | Oct 28, 2025 | ||||
| Series A | Mar 5, 2024 | ||||
| Seed | Oct 13, 2022 |
Key People
Founding team and executive leadership
Formalize Investors
Notable investors and investment history
| Investor | Rounds |
|---|---|
| CIBC Innovation Banking | Series B |
| Acton Capital | Series B |
| BlackFin Capital Partners | Series A |
| West Hill Capital | Series B, Series A, Seed |
| BlackFin Tech | Series B |
Market signals
Structured signals derived from secondary market and firmographic data.
- Mar 1, 2026
Expanded offering to include data compliance, risk, and privacy.
- Mar 1, 2026
Whistleblower Software by Formalize named award-winning.
Formalize Filings
SEC and related filings with document metadata.
| Typed | Date | Amount Offered | Amount Sold | Filling | Pages | Download |
|---|---|---|---|---|---|---|
Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation |
Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation |
Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation |
Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation | Sign Up to view | Mock Valuation |
Frequently Asked Questions
Common questions about Formalize's valuation, stock price, and market status.
