Blockchain-based job screening tool Veremark has raised $8.5m (7.08m) in equity funding, led by venture capital firm Stage 2 Capital.
Headquartered in London, Veremark’s software lets companies run background research on potential hires. It then creates a “career passport” that stores job credentials on the blockchain.
Veremark told UKTN that the immutability of blockchain technology means the career credentials can be “reused again with a greater level of trust in the integrity of results”.
The UK firm also sees this as a way to return ownership of background check data to candidates to reuse in other applications.
“For small companies, Veremark eliminates the complexity of cross-border checks. For big companies, we provide a single platform that helps manage globally distributed workforces. For the candidate, the process is smooth, painless, and lets them own their data,” said Daniel Callaghan, CEO, Veremark.
Veremark operates across the UK, US, Australia, Singapore, India, and...
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