Revolutionizing Background Checks: KarmaCheck's $45 Million Funding Boost
June 28, 2024, 3:33 pm
Location: United States, California, San Francisco
Employees: 11-50
Founded date: 2018
Total raised: $60M
In a groundbreaking move, KarmaCheck, a cutting-edge background-checking startup, has recently secured a substantial $45 million in funding. Led by co-founder Mark Lieberwitz, the company is on a mission to transform the background check and credentialing process, particularly focusing on the healthcare staffing industry.
Traditionally, the background check industry has lacked a strong emphasis on customer and candidate experience, leading to frustration among employers and job seekers alike. Recognizing this gap, KarmaCheck is determined to make the background check and credentialing process faster, more accurate, and overall more positive for all parties involved.
Through the infusion of this significant funding, KarmaCheck plans to further develop its innovative technology platform. This platform boasts a range of features and functionalities that have been specifically designed to meet the needs and demands of users. From an intuitive dashboard for administrators that seamlessly integrates with their application tracking system to a mobile-first interface for candidates that keeps them informed about the status of their results, KarmaCheck is committed to providing a user-friendly and efficient experience.
Key features of the KarmaCheck platform include a chat functionality that enables administrators to communicate directly through the platform and receive rapid responses from the company's customer service representatives or credentialing experts when necessary. Additionally, the company employs a team of experienced professionals to ensure the accuracy of its results, coupled with a mobile-friendly interface that simplifies the process for candidates, making it more convenient and transparent.
Notably, KarmaCheck's candidate-focused technology and onboarding automation have been proven to reduce turnaround time by up to 46%, leading to minimized drop-offs and increased on-time starts. As a result, customers have reported significant cost savings and operational efficiencies, with streamlined workflows and a one-stop shop vendor approach.
In the past year alone, KarmaCheck has experienced remarkable revenue growth of over 600% and has expanded its customer experience team by more than 300%, while successfully delivering millions of screenings. The company's dedication to providing exceptional service and cutting-edge technology has garnered the attention and support of investors, with a recent Series B funding round led by Parameter Ventures, alongside PruVen Capital, Velvet Sea Ventures, and NextView Ventures, bringing the total investment in KarmaCheck to an impressive $64 million.
Looking ahead, KarmaCheck is poised to accelerate the development of its technology platform, with a specific focus on expediting the credentialing process. The company remains committed to delivering top-notch customer service to businesses and candidates alike, as evidenced by the significant growth of its Customer Experience team. This funding injection will enable KarmaCheck to further expand into new industry verticals, including business, professional, IT, clerical, and industrial staffing industries.
For the industrial sector, in particular, faster turnaround times on comprehensive background checks are essential for filling safety-sensitive roles without compromising project timelines. In the staffing realm, streamlining the hiring process with a mobile-friendly interface is crucial for attracting qualified candidates swiftly, while maintaining security through accurate background checks.
Ultimately, KarmaCheck's vision is to revolutionize the background check and credentialing industry by ushering in a new era of modernization. Co-founder Mark Lieberwitz envisions a future where the entire process is faster, simpler, and completely transparent for both businesses and candidates. By streamlining the process and ensuring accuracy, KarmaCheck aims to create a win-win situation for all parties involved, contributing to a more efficient and effective workforce.
With its unwavering commitment to innovation and customer satisfaction, KarmaCheck is well-positioned to establish itself as a leading force within the background check market. The company's dedication to providing automation where needed and a human touch where it matters sets it apart in an industry that is long overdue for innovation. As KarmaCheck continues to push boundaries and set new standards, the future of background checks and credentialing looks brighter than ever.
Traditionally, the background check industry has lacked a strong emphasis on customer and candidate experience, leading to frustration among employers and job seekers alike. Recognizing this gap, KarmaCheck is determined to make the background check and credentialing process faster, more accurate, and overall more positive for all parties involved.
Through the infusion of this significant funding, KarmaCheck plans to further develop its innovative technology platform. This platform boasts a range of features and functionalities that have been specifically designed to meet the needs and demands of users. From an intuitive dashboard for administrators that seamlessly integrates with their application tracking system to a mobile-first interface for candidates that keeps them informed about the status of their results, KarmaCheck is committed to providing a user-friendly and efficient experience.
Key features of the KarmaCheck platform include a chat functionality that enables administrators to communicate directly through the platform and receive rapid responses from the company's customer service representatives or credentialing experts when necessary. Additionally, the company employs a team of experienced professionals to ensure the accuracy of its results, coupled with a mobile-friendly interface that simplifies the process for candidates, making it more convenient and transparent.
Notably, KarmaCheck's candidate-focused technology and onboarding automation have been proven to reduce turnaround time by up to 46%, leading to minimized drop-offs and increased on-time starts. As a result, customers have reported significant cost savings and operational efficiencies, with streamlined workflows and a one-stop shop vendor approach.
In the past year alone, KarmaCheck has experienced remarkable revenue growth of over 600% and has expanded its customer experience team by more than 300%, while successfully delivering millions of screenings. The company's dedication to providing exceptional service and cutting-edge technology has garnered the attention and support of investors, with a recent Series B funding round led by Parameter Ventures, alongside PruVen Capital, Velvet Sea Ventures, and NextView Ventures, bringing the total investment in KarmaCheck to an impressive $64 million.
Looking ahead, KarmaCheck is poised to accelerate the development of its technology platform, with a specific focus on expediting the credentialing process. The company remains committed to delivering top-notch customer service to businesses and candidates alike, as evidenced by the significant growth of its Customer Experience team. This funding injection will enable KarmaCheck to further expand into new industry verticals, including business, professional, IT, clerical, and industrial staffing industries.
For the industrial sector, in particular, faster turnaround times on comprehensive background checks are essential for filling safety-sensitive roles without compromising project timelines. In the staffing realm, streamlining the hiring process with a mobile-friendly interface is crucial for attracting qualified candidates swiftly, while maintaining security through accurate background checks.
Ultimately, KarmaCheck's vision is to revolutionize the background check and credentialing industry by ushering in a new era of modernization. Co-founder Mark Lieberwitz envisions a future where the entire process is faster, simpler, and completely transparent for both businesses and candidates. By streamlining the process and ensuring accuracy, KarmaCheck aims to create a win-win situation for all parties involved, contributing to a more efficient and effective workforce.
With its unwavering commitment to innovation and customer satisfaction, KarmaCheck is well-positioned to establish itself as a leading force within the background check market. The company's dedication to providing automation where needed and a human touch where it matters sets it apart in an industry that is long overdue for innovation. As KarmaCheck continues to push boundaries and set new standards, the future of background checks and credentialing looks brighter than ever.