Recruitment & HRInvestment

Veremark, a pre-employment screening and verified career credentials firm, has raised a further £7.1 million in equity funding just nine months after its initial £2m seed round.  

The round has been led by a new investor, US venture capital firm Stage 2 Capital. Samaipata, a Pan-European venture capital firm also joined the round as a new investor, and several existing investors Triple Point Ventures, ACF Investors, Vulpes, and SOV provided follow-on investments, bringing the company’s total funding to $12.3m.

Veremark aims to simplify the process of checking the claims and credentials of prospective employees based around the world through its digital platform. The firm now offers more than 40 kinds of credential checks in 150 countries. 

Through both direct sales and a wide number of partnerships, the company has grown monthly revenue by 300% since September 2021. Veremark’s client base of hundreds of monthly users includes HR teams at UK FinTech success stories Wise and ComplyAdvantage as well as global corporates such as PepsiCo and BCG.

Anubhav Maheshwari, Partner at Stage 2 Capital, said: “Effective pre-employment screening and candidate vetting are critical considerations for business operations, compliance, and risk management. Yet, around the world, these processes are highly manual and often delayed, inaccurate, or incomplete.

“With extensive global data connections and focus on speed and accuracy, Veremark is transforming a legacy workflow through innovation. We are thrilled to partner with Veremark and support the team on its mission of providing a technology-driven superior candidate experience.”

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The company is also focused on verified career digital credentials which enables candidates to ‘own’ their career data – eliminating the need for slow and repetitive checks every time they get a new job. 

To champion this cause, the firm has partnered with the leading USA recruitment trade association, Techserve Alliance, to offer Verepass, a career passport which holds all of a candidate’s credentials, helping the Techserve Alliance members to place pre-verified contractors faster and more cost-effectively.

Jose del Barrio, founding partner at Samaipata, said: “We are very excited to be part of Veremark’s round on their mission to become the most global platform for pre-employment checks and first-ever career passport. 

“As the way we work is increasingly flexible and remote across the world, we believe that the Veremark team, with their extensive experience in recruitment, tech and design, are well equipped to empower that change and make it happen.” 

Veremark operates as a globally distributed team with core hubs in the UK, USA, Australia, Singapore, India, and the Philippines, and expects its headcount to double over the next 12 months.

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