TechFlow News — Veremark, a blockchain-based recruitment tool, has raised $8.5 million (approximately £7.08 million) in an equity funding round led by venture capital firm Stage 2 Capital, with participation from Samaipata, Triple Point Ventures, ACF Investors, Vulpes, and SOV. Veremark plans to double its workforce over the next year.
Headquartered in London, Veremark's software enables companies to conduct background checks on potential employees and creates a "professional passport" that stores work credentials on the blockchain.
Veremark operates in the UK, US, Australia, Singapore, India, and the Philippines. Its software is used by companies including Wise, PepsiCo, and BCG.
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