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Formalize Secures €30 Million to Boost Compliance Support and Expand Across Europe

Prime Highlights: 

  • Formalize has raised €30 million in Series B funding to make regulatory compliance easier for businesses across Europe. 
  • The company plans to expand into key European markets, including the DACH region and France, by opening new offices and strengthening local teams. 

Key Facts: 

  • Founded in 2021, Formalize provides a single compliance platform supporting frameworks like NIS2, DORA, ISO 27001, GDPR, and SOC 2. 
  • The company now operates in over 80 countries and supports more than 12 languages, serving thousands of organisations worldwide. 

Background: 

Copenhagen-based compliance software company Formalize has raised €30 million in Series B funding to help make regulatory compliance easier for businesses across Europe. The round was co-led by Acton Capital and Blackfin Tech, with support from West Hill Capital and CIBC Innovation Banking. This brings the company’s total funding to €50 million to date. 

Founded in 2021, Formalize provides a single platform that helps organisations handle Europe’s changing regulatory requirements. It supports key frameworks such as NIS2, DORA, ISO 27001, GDPR, and SOC 2, allowing businesses to stay compliant and quickly adapt to new rules. 

Formalize initially began with its Whistleblower Software before expanding into broader areas of risk, privacy, and data compliance. Today, the company serves organisations in more than 80 countries and supports operations in over 12 languages. Its technology consolidates multiple regulatory requirements and automates compliance workflows, allowing small and medium-sized enterprises (SMEs) to focus on growth while staying aligned with evolving European standards. 

Jakob Lilholm, CEO and co-founder of Formalize, highlighted that compliance is no longer optional but a core part of doing business in Europe. “At Formalize, we’re building a future where automation simplifies governance, risk, and compliance for European SMBs without compromising security or local expertise,” Lilholm said. He said the company’s growth and ability to serve thousands of clients make it a leader in Europe’s regulatory sector. 

This milestone shows Formalize’s strong position as a leading compliance company in Europe, helping businesses handle regulations more easily and with confidence. 

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