Its customers integrate the whistleblowing software to offer employees a way to file a report anonymously in writing, while those who want to report orally can do so safe in the knowledge that the software distorts the callers voice.Formalize claims a slew of big-name customers already, including McDonalds, Gap, and Dutch banking giant ABN AMRO.Formalize raised a $3 million seed round of funding 16 months ago. And with another 15 million in the bank, the company is now gearing up to expand beyond whistleblowing software with the launch of a new compliance platform designed to gather, structure, and automate all the compliance work that companies are increasingly expected to engage in as part of GDPR data protection laws in Europe. Its also worth noting the NIS2 cybersecurity regulations, which have provisions for data security, entering into force last January with European member states given until October this year to transpose it into national law.Each new law, like GDPR or the upcoming NIS2, requires time to implement and operate effectively managing regulations is a business advantage in an evolving landscape of new legislation, Lilholm said.The new compliance system can be integrated with other systems such as CRMs or supplier databases this enables companies to conduct all their risk assessments and incident reports from a single interface, as well as map data processing activities, policies, and tangential GDPR procedures.This is also why the company is changing its overarching company name from Whistleblower Software, as it diverges from its initial focus into a far more extensive (and lucrative) market. [Data compliance and whistleblowing] are primarily connected by the intention of the [GDPR] regulation, Formalize co-founder and CTO Kristoffer Abell told TechCrunch. Where whistleblowing is enforced to help companies detect noncompliance across a wide range of areas of ethics and compliance, most other compliance areas are there to define a new standard for organizational responsibility that aligns better with the public interests.For its 15 million Series A round, Formalize has ushered in Frances BlackFin Capital Partners as lead investor, with participation from the startups seed round lead investor, London-based West Hill Capital.