Veremark secures $3M for enhanced global background screening services

Veremark helps companies run checks on prospective employees, business partners, limited partners and founders.
Veremark secures $3M for enhanced global background screening services

Veremark, a UK global background screening company, has secured $3 million in a Pre-Series B round, bringing its funding to over $16 million.

Veremark provides a global background screening service that helps companies run checks on prospective employees, business partners, limited partners and founders — therefore reducing the risk of hiring or working with underqualified or legally unsuitable people.

Its platform verifies candidate work histories, gathers references and checks identities and qualifications.

Recently, it launched its latest product, Verepass, a career passport that allows candidates to own, manage and share their verified credentials. Securely held on the blockchain, Verepass reduces check requirements and saves time and money.

Daniel Callaghan, Founder and CEO of Veremark, said: 

“We continue our mission to make increasing trust frictionless in the hiring process and across the workplace.

This additional funding will enable us to broaden our global reach, enhance our technology, and provide a significant runway to achieve our next growth round when it best suits the business, as we continue to empower businesses worldwide to make informed hiring decisions.”

Samaipata and Stage 2 Capital lead the round which includes participation from ACF Investors and Vulpes Investment.

Jose Del Barrio, Founder and Managing Partner at Samaipata said: 

“The growth trends around workplace compliance and regulations are both enduring and global. Veremark has consistently proven its ability to add and retain clients across geographies and sectors regardless of market conditions.

We are excited by the long term vision to improve workplace trust and to partner with the company as it scales further.”

Tim Mills, Managing Partner at ACF Investors, said: 

“With the cost of failed hires estimated to be three times their annual salary, Veremark’s efficient solution to background screening is helping businesses make fully informed hiring decisions.

Despite a global slow down in recruitment, the company has continued to deliver exceptional growth due to the value it brings to customers. We are excited to continue backing Veremark's remarkable growth journey as it continues to redefine workplace compliance and screening."

 The investment will support Veremark’s continued client acquisition and further develop its screening technology.

Lead image: Israel Andrade

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