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Reports conducted among employees suggest that harassment continues to be a major challenge in the workplace. A recent report by NAVEX Global, a leading ethics and compliance software and services company showed that there is increased sexual harassment. It stated that there is a growth in the number of employees willing to report against harassment but there are those who remain reluctant due to lack of trust in internal processes.
In an attempt to make workplace misconduct reporting simple, a London-based startup Vault Platform has built a software. It has developed an app that lets employees go off the record when reporting incidents of misconduct.
Raises €3.75M funding
In a recent development, Vault Platform has raised €3.75 million seed funding. The funding round was led by Kindred Capital along with participation from System.One, Angular Ventures, Jane VC and former Mosaic Ventures Partner Mike Chalfen.
The London-based startup will use this funding to scale and expand its presence across Europe and North America. The company claims that its target customers are enterprises and organisations with over 1,000 employees in all sectors and industries. Though they have varied clientele, the emerging tech companies are touted to show overwhelming interest in its misconduct reporting solution.
Better way to report misconduct
Founded in 2018 by Neta Meidav and Rotem Hayoun-Meidav, Vault Platform is building a new and better way to let employees report misconduct, be it harassment or bullying at the workplace. It will replace the existing hotline systems that are underused and ineffective mostly.
Called TrustTech, it lets employees record incidents in a diary-like space. The SaaS consists of an employee app, data and analytics and corporate case management hub. It claims to help enterprises identify repetitive problems and manage issues internally before actually escalating the same.
Lack of trust with reporting mechanisms
In the wake of movements such as #TimesUp and #MeToo that took the professional world by storm, Vault realised that the broken reporting mechanisms are the major cause of this cultural revolution. A majority of the victims do not raise the issue as there is a lack of trust with the reporting mechanisms. While harassment and bullying still exist, only 25% percent of the same is reported.
Vault has come up with an employee-centric platform providing employees with a safe space to record incidents and save the evidence. If employees decide to report the incident to their employer, they can do it by choosing ‘GoTogether’. It is a feature that lets them report the misconduct that prevents the issues from raising again.
Stay tuned to Silicon Canals for more updates in the tech startup world.