Founders: Daniel Callaghan, Angus Bankes and Daniel Brathwaite
Business: Applicant background checking and employee screening platform
Veremark is an applicant background checking and employee screening startup which launched in 2019. It has raised £2.75M to date, including £2M in an oversubscribed seed funding round.
Some of the biggest employers in the world – including Pepsi, BCG, ComplyAdvantage and Schneider Electric – now use Veremark to run background checks on candidates or existing employees, spanning academic and employment history, social media, criminal and credit checks, and more.
The results are logged in a Career Passport, Blockchain-verified, and given to employees to take with them to future roles, significantly reducing costs and the administrative burden on HR teams.
Unlike traditional employee background screening processes, which are slow, analogue and painfully labour-intensive, Veremark offers a fast and seamless service for employers who may need to run thousands of checks on their workforces. Crucially, the platform has also been designed with employees in mind, so the experience doesn’t deter top talent.
The company was founded by Daniel Callaghan (CEO), Angus Bankes (CTO) and Daniel Brathwaite (chief product officer). It has offices in London, Singapore and Manila and a regional presence in Australia, India and Hong Kong, too.
The biggest challenge Veremark has faced so far has been Covid-19, which hit just a few months after the company launched. In the first quarter of 2020 and much of the second, new business dropped off a cliff as global hiring ground to a halt and companies worked out how to operate again. It was only from June onwards that the market bounced back.
Despite that, Veremark grew by more than 800% in 2020 as trends in virtual and international hiring caused by the pandemic prompted demand for background checks to soar. With employers often unable to meet prospective employees in person at all, or hiring overseas for the first time, they needed to take extra steps to vet candidates and reduce the risk of CV fraud.
As such, the company has already seen high triple-digit growth in 2021 and expects to see the same in 2022. The founders credit word-of-mouth referrals from clients as a key factor behind their rapid growth.
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