The Danish legal tech startup, Whistleblower Software, has grabbed $3 million in seed funding for their platform. The financing round came from UK-based VC firm West Hill Capital (that backed Denmark-based nanotech ATLANT 3D) and angel investors, including Silicon Valley executive Morten Brøgger.
Growth And Expansion Plans
Whistleblower Software plans to use the investment to expand into new markets. The company launched only 18 months earlier, making this their first investment.
Whistleblower Software CEO Jakob Lilholm noted that closing this deal was a huge success for his company. He explained that most other businesses were unable to close deals without reducing the value of their properties. This explains why they were struggling to grow at this time.
Ropes In New Board Member
Silicon Valley Executive Morten Brøgger has been added to the board of Whistleblower Software. He is a former CEO of Wire, a secure communications platform used by G7 governments. As an expert on compliant SaaS products for business-to-business use, Brøgger can also add value to the company’s board. Additionally, Brian Jeppesen, the CEO of IT consulting firm IT Consultants Ltd., has joined the board as well.
Whistleblower Software recently released a fully functional product that meets compliance regulations. They’re also quickly growing in popularity thanks to their ability to provide affordable and easy-to-use software for customers. This makes it very difficult for any legaltech startup to fail, as they have to meet certain regulations in order to gain new customers and keep old ones. I’m very excited to join Whistleblower Software as a member, said Morten Brøgger.
B2B SaaS Platform For Businesses
The European Union passed a set of rules requiring anonymous third-party reporting for any complaints regarding fraud, bribery or sexism in a company. These new regulations ensure employees can safely report any wrongdoing.
The European Union has mandated that businesses with over 50 employees must use a third-party platform to handle anonymous complaints of staff wrongdoing. This includes issues such as sexism, bribery and fraud. The software company Whistleblower Software was founded in 2021 by Jakob Lilholm, Magnus Boye and Kristoffer Abell.
Software created by whistleblowers is different from other options. This software is sold through partnerships with consulting firms like BDO, DLA Piper and PwC. These firms sell platform licenses to their clients— which are usually their advisees who need a whistleblower platform. Because of this, more than 1 million people work on 80 different countries’ platforms. These employees have access to the software that was created by whistleblowers.