Vault Verify, a New Smyrna-FL-based HR technology company, received a growth investment from PSG.
The amount of the deal was not disclosed.
The investment, which is Vault Verify’s first institutional capital, aims to help accelerate the company’s investment in product innovation to help HR departments be more efficient and secure. PSG’s Adam Marcus, Managing Director, and Govind Anand, Principal, will join Vault Verify’s Board of Directors, along with Brian Kelly, Senior Advisor at PSG, who will join the Board as Chairman.
The company intends to use the funds to continue the expansion of its customer base, which includes its plan of targeting many cyber security-conscious Fortune 500 companies.
Founded in 2013 and led by Phillip Luizzo, CEO and COO, Vault Verify provides a human capital management platform that allows HR departments to automate employee verification through API integrations. Ths solution works with hundreds of enterprise clients to remove labor burden by automating verifications of employment and income and the I-9 process.
Vault Verify’s proprietary API and software technology integrates with HR systems and pulls data records in real-time to automate the entire employment and income verification process, thereby reducing human involvement.