Formalize is a compliance operations platform that automates the management of regulatory frameworks such as NIS 2, DORA, and ISO 27001, enabling organizations to efficiently track risks, incidents, and supplier audits. By streamlining documentation and providing customizable dashboards, it addresses the complexities of compliance processes, ensuring organizations can maintain clear data structures and meet legal requirements effectively.
Funding
$5.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Organizations face increasing complexity in managing and documenting compliance with evolving regulatory frameworks like NIS 2, DORA, ISO 27001, and GDPR. Traditional methods relying on spreadsheets and manual processes are inefficient, error-prone, and lack the structured data needed for effective reporting and risk management. This makes it difficult for organizations to maintain a clear overview of their compliance status and demonstrate adherence to stakeholders.
Solution
Formalize offers a compliance operations platform designed to automate and streamline the management of regulatory compliance. The platform provides a centralized system for tracking risks, incidents, supplier audits, and other key compliance activities. It enables organizations to build custom dashboards and generate reports for management and stakeholders, providing a clear picture of their compliance posture. Formalize also facilitates the creation of structured data that can be easily exported and filtered, ensuring flexibility for companies with complex organizational structures.
Target Audience
Formalize targets InfoSec, GRC, and privacy professionals within organizations of all sizes that must comply with regulations such as NIS 2, DORA, ISO 27001, and GDPR.
Features
- Streamlined governance for managing the implementation of NIS 2, DORA, ISO 27001, GDPR, and other frameworks
- Customizable dashboards for reporting on risks, supplier audits, incidents, and other compliance metrics
- Automated supplier audit workflows to optimize and simplify the audit process
- RoPA (Record of Processing Activities) management with user access control and data export capabilities
- Data Subject Request (DSR) management with secure communication and automated data deletion
- Risk and incident management with historical overviews and customizable risk assessment procedures
- Trust Center for documenting and sharing compliance-related information with stakeholders
- Version history tracking for changes to policies, procedures, and other compliance documents
- Policy management for hosting, updating, and approving policies with seamless linking to compliance areas
- Customizable templates for DPIAs (Data Protection Impact Assessments) and TIAs (Transfer Impact Assessments)
- Group structure management with templates and nested access permissions for statistical analysis across the entire group