- KarmaCheck, founded by Eric Ly, co-founder of LinkedIn, has raised $45 million in a Series B funding round led by Parameter Ventures, with participation from PruVen Capital, Velvet Sea Ventures, GC1 Ventures, and NextView Ventures.
- Funding Utilization: The funding will accelerate the development of KarmaCheck’s technology platform, enhance service levels, and facilitate expansion into new industry verticals.
- Company Background: Founded in 2019, KarmaCheck aims to streamline background checks and credentialing to improve the hiring process.
- Recent Achievements:
- Achieved over 600% revenue growth.
- Expanded the customer experience team by more than 300%.
- Conducted millions of screenings, demonstrating scalability and market demand.
- Technological Innovation:
- Offers intuitive, automated dashboards for staffing administrators.
- Features built-in API integrations with applicant tracking systems.
- Mobile-friendly interface for candidates to schedule screenings.
- Utilizes AI for faster and more accurate results compared to competitors.
- Customer Testimonials:
- PRN Healthcare experienced 85% faster background screenings and saved 12 hours per week since switching to KarmaCheck.
- Industry Impact:
- Significant demand in highly credentialed industries like healthcare, where speed-to-hire is crucial.
- KarmaCheck’s approach combines technology innovation, AI-forward processes, and expert customer service to deliver fast, accurate, and transparent background screenings, enhancing the candidate experience and operational efficiency for employers.
