Formalize is a Copenhagen-based compliance software company founded in 2021 that centralises and automates governance, risk and compliance (GRC) workflows. Its platform supports multiple frameworks, including NIS2, DORA, ISO 27001, GDPR and SOC 2, allowing SMEs to consolidate requirements and respond quickly to regulatory changes. Initially launched as Whistleblower Software, the company has since expanded into broader risk, privacy and data compliance and now serves organisations in more than 80 countries and over 12 languages. Formalize positions automation and AI at the core of its product to simplify compliance while preserving security and local expertise. The firm’s customer base numbers in the thousands of SMEs across Europe who face an increasingly complex regulatory landscape. With €50 million raised to date, the company is financially equipped to scale its offering. Recent funding will be used to open offices and grow local teams in key European markets such as the DACH region and France.

Total raised

$54M

Funding rounds

3

Latest round

Series B

Latest activity

Oct 2025