Veremark, a London, UK-based global pre-employment screening service for companies to verify employee credentials, raised a $2.8m in seed funding.
Backers included follow-on investors ACF Investors, Triple Point Ventures and SOV Ventures, new institutional investor Vulpes Investment Management in Singapore where Veremark has an office alongside other regional presence in London, India, Philippines, Hong Kong and Australia, as well as Prasanna Sankar, co-founder of US HR Tech Unicorn Rippling; Drew Austin, the founder of recently acquired HR chatbot solution Wade & Wendy; Rika Christanto an angel/seed investor and part of the Accel Starter program who also participated in the round, and UK Regtech entrepreneur Charlie Delingpole, who founded ComplyAdvantage, one of the Veremark’s clients.
The company, which has raised $3.8m in total funding to date, intends to use the funds to expand in the pre-employment screening market (reportedly worth $16bn per year), and to offer both a standalone web platform, as well as an API offering that lets other service providers plug the Veremark’s verification engine into their service and instantly provide pre-employment screening services to their clients.
Launched in late 2019 and led by Daniel Callaghan, CEO, Veremark is a global background screening service that helps companies to do checks (like employment history, academic, criminal and credit records) on prospective employees through its pre-screening services as well as prospective business partners, LPs and founders.
The company operates globally with regional offices across APAC, UK, EU and USA.
Since launch in 2019, the company has served hundreds of the world’s top venture backed companies and multinationals and works directly with Heads of Talent Acquisition to help them improve speed and overall hiring experience.