HRtech startup Veremark raises US$8.5 million in Series A funding
VEREMARK, a Singapore-based provider of pre-employment screening services, has raised US$8.5 million in a Series A equity round led by US venture capital investor Stage 2 Capital.
European venture capital firm Samaipata also joined the round as a new investor, alongside existing backers Triple Point Ventures, ACF Investors, Vulpes, and SOV. The startup previously raised a US$2.8 million seed round last year.
Launched in 2019, Veremark provides a global background screening service that helps companies run checks on prospective employees, business partners, limited partners and founders. Its clients include the HR teams at UK fintechs Wise and ComplyAdvantage, as well as global corporates PepsiCo and BCG.
“For small companies, Veremark eliminates the complexity of cross-border checks. For big companies, we provide a single platform that helps manage globally distributed workforces,” said Daniel Callaghan, CEO of Veremark.
The startup’s key offices are in the UK, US, Australia, Singapore, India and the Philippines. It plans to double its headcount over the next year.
“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,” said Anubhav Maheshwari, partner at Stage 2 Capital.
A NEWSLETTER FOR YOU
Garage
The hottest news on all things startup and tech to kickstart your week.
“With extensive global data connections and focus on speed and accuracy, Veremark is transforming a legacy workflow through innovation.”
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
High Court dismisses bid by co-founder and CTO to liquidate Cake Group
Semiconductor unicorn Silicon Box vows to avoid geopolitical mire
A cheat sheet of startup and tech M&As in South-east Asia
Zilingo ex-CEO’s criminal complaint is retaliation against whistleblowers: source
Gojek and ComfortDelGro Taxi to send untaken rides to each other’s platforms
SG fintech firm Bambu shuts down after missing profit targets, says founder