Veremark, a UK global background screening company, has announced that it has raised $3 million in its pre-Series B round led by Samaipata and Stage 2 Capital, with participation from ACF Investors and Vulpes Investment. The startup aims to use this investment to support its screening technology’s growth and ongoing client acquisition.
Established in 2019, Veremark offers a distinctive global background screening service. It equips companies with the ability to conduct comprehensive checks on potential employees, business partners, limited partners, and founders. This unique service mitigates the risk of hiring or collaborating with individuals who may be underqualified or legally unsuitable. The platform not only verifies candidate work histories but also gathers references and checks identities and qualifications. Veremark has expanded its reach in the APAC region through the acquisition of Employrite, a background screening firm based in Australia and New Zealand.
Commenting on the investment, Founder and CEO of Veremark, Daniel Callaghan, 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.
Veremark has recently unveiled its latest innovation, Verepass. This career passport revolutionizes the way candidates manage their verified credentials. By securely storing this information on the blockchain, Verepass eliminates the need for repetitive verification checks, thereby saving businesses valuable time and costs. Veremark’s expansion is evident with the establishment of offices in Singapore, the US, Australia, New Zealand, and the Philippines.
Jose Del Barrio, Founder and Managing Partner at Samaipata, added:
The growth trends around workplace compliance and regulations are 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.
Veremark claims it has achieved rapid growth, tripling its client base since its Series A raise in July 2022 and increasing its valuation by 50 per cent. It is also working with major industry players, including OVO Energy, Wise, and Schneider Electric. The company’s latest funding has raised its total to over $16 million.
