KarmaCheck receives $45 million in Series B funding

KarmaChecka San Francisco, California-based technology-based background screening, credentialing and compliance solution, has raised $45 million in its second round of funding.

The round was led by Parameter Ventures, with participation from PruVen Capital, Velvet Sea Ventures, GC1 Ventures and NextView Ventures.

The company intends to use the funds to accelerate the development of its proprietary technology platform, expand its service levels to more clients and candidates, and expand into new verticals.

Founded by Eric Ly, KarmaCheck enables background checks and approvals by combining technology and customer support. The platform provides HR administrators with automated dashboards and built-in API integrations for applicant tracking systems. Candidates stay updated through a mobile-friendly interface and can schedule clinic-based screenings through the platform.

The Series B funding round follows a year of significant achievements and milestones for KarmaCheck, including:

• Sales growth of over 600%
• Expanded the Customer Experience team by more than 300%
• Delivering millions of screenings

KarmaCheck commented on the news as follows: “But it doesn’t have to be this way. KarmaCheck has a strong focus on technological innovation and expert customer service. This combination, coupled with our AI-driven approach, is unique in the industry and allows us to deliver not only fast and accurate results, but also the best candidate experience in the industry..”

Financial support for SMEs

27.06.2024