Summary – KarmaCheck Secures $45M Series B Round
• KarmaCheck secures $45 million in Series B round led by Parameter Ventures.
• Participation includes PruVen Capital, Velvet Sea Ventures, GC1 Ventures, and NextView Ventures.
• Capital to accelerate technology platform development, provide excellent service, and enter new industry verticals.
• KarmaCheck, founded by Eric Ly, offers innovative technology and expert-led customer service.
KarmaCheck, a technology-based solution for background checks, credentialing, and compliance, said today that it has secured $45 million in a Series B round headed by Parameter Ventures, with participation from PruVen Capital, Velvet Sea Ventures, GC1 Ventures, and NextView Ventures.
With this capital, the San Francisco-based firm intends to accelerate the development of its unique technology platform, provide excellent service levels to more clients and candidates, and enter new industry verticals.
Eric Ly founded KarmaCheck, which delivers a unique combination of innovative technology and expert-led customer service, distinguishing it as an industry pioneer. Staffing administrators benefit from easy, automated dashboards and API interfaces with application tracking platforms.
Candidates are kept updated through a mobile-friendly interface and may simply arrange clinic-based screenings via the site. These unique features result in faster results, reduced expenses, and a better overall experience for both candidates and companies.
According to head-to-head studies, the platform may deliver findings up to three times faster than rivals while maintaining accuracy.
It intends to modernize background checks and provide a trust layer on the internet, allowing individuals to profit from verified identities.
Recognizing the importance of verified truth in building confidence in digital connections, we are dedicated to altering how individuals verify their identities online.
It aims to allow individuals and businesses to make educated, confident decisions by streamlining background checks.
Eric Ly, Founder and CEO of KarmaCheck, spoke about the firm and said:
Background checks and credentialing have long been one of the most irritating aspects of the recruiting process for both candidates and hiring managers. But this does not have to be the case. KarmaCheck prioritizes both technical innovation and expert-led client care.
This combination, along with our AI-forward strategy, sets us apart in the market, allowing us to provide fast and accurate results as well as the greatest candidate experience.
The business has experienced tremendous demand for its solution in highly credentialed areas such as healthcare, where speed-to-hire is a critical competitive advantage and standard background check methods are cumbersome and time-consuming.
Douglas Romanoff, a partner at Parameter Ventures, added:
KarmaCheck distinguishes out as a pioneer in a key industry ready for fresh ideas. Its creative product, seasoned management team, and unshakable dedication to client success all complement our investing strategy.
We are thrilled to sponsor KarmaCheck as it introduces innovative solutions to professional background checks, providing more speed, simplicity, and transparency suitable for the modern workforce.
The Series B fundraising round comes after a year of outstanding breakthroughs and milestones for it. These include a 600% increase in income, a 300% increase in customer experience team size, and the delivery of millions of screens.
This tremendous development and success establishes KarmaCheck as a potential background check and credentialing company.
CONCLUSION : KarmaCheck, a technology-based background checks solution, has secured $45 million in a Series B round led by Parameter Ventures, with participation from PruVen Capital, Velvet Sea Ventures, GC1 Ventures, and NextView Ventures. The funding will accelerate the development of KarmaCheck’s unique technology platform.
