Ferretly, an Easton, MD-based AI-powered social media screening SaaS startup, announced that it raised $1.5 million in seed funding to expand global reach and strengthen R&D.
The round was led by Bull City Venture Partners (BCVP), with participation from Seed Round Capital and existing investors, including a group of industry experts led by Dave Dickerson, the Founder, and Chairman of Accurate Background.
Ferretly helps organizations eliminate digital blind spots in hiring by assessing candidates’ online personas. Using artificial intelligence, the company’s platform helps talent teams to align candidate character to corporate values by surfacing a broad range of risk factors. Ultimately, Ferretly helps strengthen culture, create a safer workplace, and reduce risk to brands.
“Despite a pandemic and recent global economic turmoil, our team has been able to achieve incredible traction and growth over the past few years. Ferretly has seen back-to-back years of 3x revenue growth, representing over 300 customers globally across dozens of verticals including commercial and public sectors,” said Darrin Lipscomb, Founder and CEO of Ferretly. “We plan to use this capital to help us scale deeper into the pre-employment screening market as well as expand into other market segments. Our early investors saw the potential of our product and team and we are extremely excited to see them doubling down on this round which is being led by Bull City Venture Partners.”
David Jones will also be joining the Ferretly board of directors alongside David Dickerson, Founder and Chairman of Accurate Background, and Darrin Lipscomb, Founder, and CEO of Ferretly.
Company: Ferretly International, LLC.
Round: Seed Round
Funding Month: June 2023
Lead Investors: Bull City Venture Partners
Additional Investors: Seed Round Capital
Company Website: https://www.ferretly.com/
Software Category: Background Check Software
About the Company: Ferretly provides a cloud-based SaaS platform that leverages artificial intelligence to assess candidate risk. Its AI-powered social media Screening platform identifies candidates and employees that have exhibited undesirable behavior online. By analyzing publicly available sources, such as social media, Ferretly can help determine candidate character by surfacing online conduct and ensuring talent is aligned with overall corporate values and culture. The company's mission is to help strengthen workplace cultures, reduce employee attrition, and mitigate reputational risk to the companies and organizations they serve.