KarmaCheck Raises $45 Million in Series B

by Kay Aloha Villamor in July 2nd, 2024

KarmaCheck, a San Francisco, CA-based technology solution for background checks, credentialing, and compliance, raised $45 million in Series B funding. 


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

KarmaCheck Use of Funds 

The company will use the funding to accelerate the development of its proprietary technology platform, enhance service levels, and expand into new industry verticals. 

About KarmaCheck 

Founded in 2019 by Eric Ly, KarmaCheck is a tech-enabled background check company that provides solutions for background checks, credentialing, and compliance. The platform includes advanced features such as intuitive, automated dashboards for staffing administrators, built-in API integrations with applicant tracking systems, and a mobile-friendly interface for candidates. Its solutions seamlessly integrate with thousands of sources, offering comprehensive services such as criminal background checks, education verification, and drug testing. 

Funding Details        

Company: KarmaCheck, Inc.  

Raised: $45.0M                         

Round: Series B  

Funding Month: June 2024                                                                                           

Lead Investors: Parameter Ventures  

Additional Investors: PruVen Capital, Velvet Sea Ventures, GC1 Ventures, NextView Ventures  

Company Website: https://karmacheck.com/   

Software Category: Background Check

Source: https://www.prnewswire.com/news-releases/karmacheck-raises-45-million-series-b-to-modernize-background-checks-and-credentialing-302184051.html

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