Amsterdam-based People Intouch, an ethics and compliance software vendor, announced on Tuesday, January 24, that Fortino Capital has acquired a majority stake in the company.
In December 2019, the EU Whistleblower Directive came into force. The Directive’s aim is to provide workers who report violations of European law, such as misbehaviour or harassment by their employer, a minimal level of protection throughout the EU. All companies operating in the EU must comply with the Directive by the end of this year.
Scandals such as Wirecard, The Voice, and Royal Mail demonstrate the need for a modern whistleblower system, which is what People Intouch offers.
People Intouch: Everything you need to know
Founded in 2004 by Rolf Thung, People Intouch is a whistleblower and case management platform that creates dialogues to help organisations talk to their employees and create safer work environments.
The company’s whistleblowing platform, SpeakUp, helps companies engage with their workers, suppliers, and communities by giving them means to report anomalies and unethical behaviour. The software solution allows people to report from anywhere in the world, in any language and in full anonymity.
CEO Maurice Canisius says, “Whistleblowing is a priority in many boardrooms today, and rightly so, because we all know speaking up is hard. Our mission is to protect & connect people and organisations. The way we do that is by making it easier for people to speak up.”
“In the last few years, we managed to combine our unique expertise and knowledge into our next-generation SpeakUp platform. We help our customers to more easily address the whistleblowing dilemma and navigate the journey towards organisational transparency while also making them regulatory compliant,” adds Canisius.
The Dutch company reports that it has observed a sharp surge in the uptake of its whistleblowing platform across 60 countries in the lead-up to compliance.
According to People Intouch, 500 mid-sized and large organisations use the platform in more than 60 countries currently, reaching millions of employees worldwide. This resulted in 50,000 reports in 2022.
Some of the company’s leading European multinationals clients include Nestlé, Randstad, KLM, Skanska, Polestar, Sweco, and HILTI, among others.
Capital utilisation
People Intouch says it witnessed the volume of reports increase by high double-digit figures in recent years. More than 50,000 messages were submitted in 2022. To meet this growth, the company decided to invest in its “next-generation” SpeakUp platform and the accompanying SpeakUp Success Model.
Ida Kuijken, Partner at Fortino Capital, says, “The Whistleblowing market is expected to expand tremendously, driven by a societal shift towards increased transparency as well as regulatory initiatives such as the European Whistleblower Protection Directive. We are convinced that with a powerful, secure and user-friendly product in combination with a strong team, People Intouch is optimally positioned to capitalise on these trends.”
“Our investment and operating teams look forward to partnering up and accelerating the business strategically and geographically,” adds Kuijken.
01
Empowering Ukrainian Startups: Highlights from the PowerUp Ukraine 2024 Conference