Whistleblower Software, an Aarhus, Denmark-based legal tech startup, raised $3 million in seed funding for their platform.
The investment was from UK-based VC firm West Hill Capital and angel investors, including Silicon Valley executive Morten Brøgger.
The investment was made just 18 months after the company's inception and will be used to expand the whistleblower platform. With this investment, Whistleblower Software intends to expand into new markets.
"Securing this deal is a massive boost to our organisation as we've managed to close it at a time where others are struggling to seal deals without taking valuation cuts. It ensures we're all geared up for the upcoming growth phases and ready to expand into new markets," said Jakob Lilholm, founder and CEO of Whistleblower Software.
In addition to the investment, Silicon Valley executive Morten Brogger and IT consultancy CEO Brian Jeppesen have joined Whistleblower Software's board of directors.
Company: Whistleblower Software ApS
Raised: $3.0M
Round: Seed Round
Funding Month: October 2022
Lead Investors: West Hill Capital
Additional Investors: Morten Brøgger
Company Website: https://whistleblowersoftware.com/
Software Category: Whistleblower System
About the Company: Founded in 2021 by Magnus Boye, Kristoffer Abell, and Jakob Lilholm, Whistleblower Software has developed a B2B SaaS platform for businesses to be compliant with the new whistleblower regulations dictated by the EU, saying companies with more than 50 employees are obligated to handle staff complaints anonymously and through a third-party platform, making it safe for employees to report any wrongdoings like fraud, bribery, or sexism within a company. Whistleblower Software stands out from its competitors by partnering with consultancy firms like PwC, DLA Piper, and BDO, selling platform licenses to companies they advise about whistleblower matters. The platform is accessible to more than 1 million employees across 80 countries.
Source: https://techfundingnews.com/whistleblower-software-raises-3m-to-fuel-its-growth-and-expansion/