Honcho, a Denver, CO-based governance software for businesses, closed a $4m Series A financing.
The round was led by Fintop Capital, with participation from a number of investors and entrepreneurs including Peter Thiel, co-founder of PayPal, Palantir Technologies and Founders Fund.
The company intends to use the funds to expand operations and its business reach. The funds raised will support the expansion of Honcho’s capabilities to include mobile platforms like WhatsApp, WeChat and iMessage, and eventually moving into mobile itself.
Led by Anish Parikh, CEO and founder, Honcho provides governance software for business leaders developed to prevent damaging communications and protect their own reputation as well as their employees. The software sits on each desktop, alerting the user as they are typing if a word choice can be interpreted as inappropriate or risky, allowing users to correct messages before ever leaving their inbox. Meanwhile, the dashboard tracks and scores each alert for management, taking into account the full context of the communication occurring before and after the alert.
The company serves three of the world’s 20 largest companies and four of the world’s top 10 commodities trading firms.