Prague-based startup FaceUp, an all-in-one anonymous reporting platform that promotes a speak-up culture in professional and academic environments, has raised $3 million in a late seed round led by Reflex Capital, with support from Tilia Impact Ventures, the European Investment Fund, and Lighthouse Ventures, as Vestbee was told.
- Founded in 2017 by Jan Sláma, David Špunar, and Pavel Ihm, FaceUp creates an all-in-one anonymous reporting platform that fosters a speak-up culture in organizations worldwide.
- The platform is designed for easy, anonymous, and secure reporting of wrongdoing, harassment, and fraud. By combining anonymous reporting, survey solutions, and audience engagement, the startup helps employees and students connect with the right support when they need it most
- The platform provides anonymous reporting, case management, a live hotline, and multiple reporting channels, including chat, voice messages, an app, and phone lines. To date, nearly 20,000 reports have been submitted, and FaceUp is developing new modules to streamline feedback collection.
- FaceUp has transitioned from a non-profit that supported bullied schoolmates to a powerful tool for over 1,500 businesses and 2,000 schools across 60 countries.
Details of the deal
- The seed round was led by Reflex Capital, a Prague-based venture capital firm that supports early-stage startups. Among its portfolio are companies like BoatAround, Merchantee, and Product Fruits.
"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. This is a team that can do it. We’re proud to support it," Founder of Reflex Capital, Ondřej Fryc, stated in a press release.
- The round was led by Tilia Impact Ventures, a Prague-based seed-stage venture capital fund that recently raised €30 million for CEE founders focused on climate, education, and healthcare. It also received support from the European Investment Fund and Lighthouse Ventures.
- With the raised capital, the startup plans to expand internationally and enhance its product offerings, including an AI assistant, a survey solution extension, and an anonymous Q&A tool, while improving the whistleblower interface and scaling operations in the US, Latin America, and the Middle East.
"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," co-founder and COO of FaceUp, David Špunar, stated in a statement
