Veremark raises £2.4m in a pre-series b round led by Samaipata and Stage 2 Capital to expand its screening technology
The pre-series b round was led by Samaipata and Stage 2 Capital to support client acquisition and technology development.
Veremark provides a global workplace trust platform that unifies background screening, whistleblowing and credential verification. The company helps organisations manage employee conduct risk through automated compliance and vetting tools.
Veremark has secured £2.4m in a pre-series b funding round led by Samaipata and Stage 2 Capital, with participation from ACF Investors and Vulpes Investment. The capital will be directed towards acquiring new clients and advancing the company screening technology. This follows a period of expansion for the compliance technology startup, which recently entered the Australian and New Zealand markets through the acquisition of Employrite.
The firm has tripled its client base since its previous raise in 2022 and developed Verepass, a blockchain-based career passport for candidate credentials. Major global entities such as Wise and OVO Energy currently utilise the platform to manage workplace trust and compliance requirements.
Investor perspective
"With the cost of failed hires estimated to be three times their annual salary, Veremark’s efficient solution to background screening is helping businesses make fully informed hiring decisions. Despite a global slow down in recruitment, the company has continued to deliver exceptional growth due to the value it brings to customers. We are excited to continue backing Veremark’s remarkable growth journey as it continues to redefine workplace compliance and screening."
Tim Mills
Managing Partner, ACF Investors
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
