Copenhagen-based Formalize has raised €30 million in a Series B co-led by Acton Capital and Blackfin Tech, with participation from West Hill Capital and CIBC Innovation Banking. The company has raised €50 million to date.
Across Europe, organisations face an increasingly complex, interconnected regulatory landscape, with evolving rules reshaping expectations for information security, resilience, and reporting across industries and regions.
Formalize, addresses this with a single platform that automates compliance workflows, consolidates requirements, and supports companies in managing ongoing regulatory change.
Founded in 2021, Formalize is a compliance software company whose platform supports NIS2, DORA, ISO 27001, GDPR, SOC 2, and related frameworks. The company began with its Whistleblower Software and has expanded into broader risk, privacy, and data compliance. Today, it serves organisations in over 80 countries and supports more than 12 languages.
Jakob Lilholm, CEO and co-founder of Formalize, said compliance has become a basic requirement for doing business.
At Formalize, we’re building a future where automation and AI simplify GRC for European SMBs without ever compromising on security or the local expertise that defines us. Our ability to scale and deliver value to thousands of companies places us at the forefront of Europe’s regulatory landscape,
Lilholm added.
The new funding will support expansion across Europe, with plans to increase presence in key markets such as the DACH region and France by opening additional offices and growing local teams to support customers and partners.
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