FaceUp funding news – FaceUp Secures $3 Million in Late Seed Round Funding
Oct 10, 2024 | By Team SR
FaceUp, the anonymous reporting platform, has successfully secured $3 million in late seed round funding. Led by Reflex Capital, with participation from Tilia Impact Ventures, supported by the European Investment Fund, and Lighthouse Ventures, this funding will drive FaceUp's international expansion and the development of innovative features.
SUMMARY
- FaceUp, the anonymous reporting platform, has successfully secured $3 million in late seed round funding.
- FaceUp is a anonymous reporting platform, ethics hotline and HR tool.
These include an AI assistant, a survey solution extension, an anonymous Q&A feature for meetings, and a team temperature check feature. Congratulations to the FaceUp team on this significant milestone.
FaceUp has reached a significant milestone, now serving over 1,500 corporate and 2,000 education sector clients spanning 60 countries. With offices in Charleston, Dubai, Prague, Brno, Cheb, and Kampala, our encrypted platform empowers employees to report issues safely and anonymously, ensuring they receive the support they need.
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Originally designed as an anti-bullying initiative for schools, it has evolved into a social impact-driven startup driving institutional culture change. Through the platform, companies can foster a speak-up culture that elevates employee safety and wellbeing, leading to improved productivity in the short and long term.
Jan Sláma, Co-Founder and CEO of FaceUp, said: “FaceUp was born out of a drive to create social impact and cultural change. We have kept this as a core value even as we pivoted to a SaaS offering that’s now used by thousands of companies across industries worldwide. More and more, companies understand that employee wellbeing and productivity go hand in hand. Now that we have demonstrated the potential for scalability across industries and geographies, we will use the funding round to broaden and improve our tools and accelerate our efforts in the U.S. in particular, as well as Latin America, and the Middle East.”
David Špunar, Co-Founder and COO of FaceUp, said: “Regulation and compliance are the bare minimum in addressing modern workplace challenges, but that’s where many companies stop when it comes to anonymous reporting and misconduct tracking. We’ve approached whistleblowing not as a compliance hurdle but as a highly effective tool for employee wellbeing and reputation insurance. That has translated into real success on the back of profitable scaling. Our investors see this potential the same way we do, and we’re so happy to have their support.”
The FaceUp platform revolutionizes whistleblowing by offering anonymous reporting, case management, a live hotline, and numerous use cases. Reporting options include chat, voice messages, app, and phone lines, with plans for more modules to enhance feedback collection. With nearly 20,000 reports since 2017, FaceUp is reshaping transparency and accountability in organizations.
Ondřej Fryc, Founder of Reflex Capital, said: "The FaceUp team figured out how to transform a non-profit initiative for schools into a profitable business without sacrificing that founding mission of social impact. We believe this is not a nice-to-have product but an essential tool of major importance for corporate and government entities, so the potential for growth across markets is enormous. This is a team that can do it. We’re proud to support it.”
This funding round will kickstart additional product developments to bolster the platform’s broader HR applications and accelerate commercial efforts across the world, with an emphasis on the U.S. market.
About FaceUp
FaceUp is a anonymous reporting platform, ethics hotline and HR tool. It is a secure, intuitive and easy to use solution, which allows employees and pupils to report instances of wrongdoing.