London-based Veremark, a background screening and reference checking platform, announced on Wednesday that it has raised $8.5M (approximately €8.3M) in a fresh round of funding. The round comes just after the startup raised its initial $2.8M Seed round nine months ago.
Veremark says the fresh funds will be used to expand its presence in key markets around the world and to continue developing its people compliance and verified digital credentials platform.
Investors in this round
The round was led by US-based VC firm Stage 2 Capital, a new investor. Another new investor, pan-European venture capital firm Samaipata, also joined the round. Existing investors Triple Point Ventures, ACF Investors, Vulpes, and SOV also provided follow-on investments, bringing the company’s total funding to $12.3M.
Anubhav Maheshwari, Partner at Stage 2 Capital, says, “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 a focus on speed and accuracy, Veremark is transforming a legacy workflow through innovation.”