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.

“With extensive global data connections and focus on speed and accuracy, Veremark is transforming a legacy workflow through innovation.”

Congratulations on your achievement and best of wishes to the entire team at Veremark . All the best in your future endeavours.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.