Photo: Vault Platform
Vault Platform, a London-based workplace misconduct reporting company, recently announced it raised $4.2 million in seed funding. This round of funding was led by Kindred Capital. Angular Ventures, System.One, Jane VC, and former Mosaic Ventures Partner Mike Chalfen also participated in this funding round according to TechCrunch.
Founded last year by Neta Meidav and Rotem Hayoun-Meidav, Vault Platform is focused on creating a better way for company employees to report misconduct like workplace bullying and harassment. And it would replace existing “hotline” systems. And Vault Platform allows employees to record incidents in a diary-like fashion with an option to only action those complaints when other people also come forward.
Vault Platform includes an employee app, a corporate case management hub, and analytics. With Vault Platform, companies are is able to prevent more issues before they become a bigger problem.
With this funding round, Vault is going to scale and expand its presence in North America and Europe. And while the company has customers across a wide variety of industries, they have been receiving overwhelming interest from emerging tech companies.
“It’s undisputed that the world of work is going through a rapid change in light of the #MeToo and #TimesUp movements — we realized that one of the underlying reasons for this cultural revolution is the fact that reporting mechanisms are completely broken and what we really witness here is a deficit of trust,” said Vault Platform co-founder and CEO Neta Meidav via TechCrunch.
Bullying and harassment is a big problem at companies, but only 25% of misconduct is reported according to Meidav. As a result, people get hurt, businesses end up with bad reputations, and company-wide policies have to be constantly modified.
Meidav added that Vault was launched as an employee-centric platform for providing employees with a safe space to record incidents and save the evidence. And if they decide to report the problem to their employer, they can do so by selecting “GoTogether.” This feature allows them to file the report on the condition that they are not the only ones who are raising the same issues.
