MARYLAND – Ferretly, an AI-powered social media screening SaaS startup, announced today that it has raised $1.5 million in seed funding. The round was led by Bull City Venture Partners (BCVP), with participation from Seed Round Capital and prior investors, including a group of industry experts led by Dave Dickerson, 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.”
“We view this investment in Ferretly as an opportunity to achieve a dominant market position in the novel product segment of social media screening,” said David Jones, Partner at BCVP. “For any company, recruiting talent that is aligned with the firm’s values and culture is of utmost importance – Ferretly helps unlock greater transparency into a candidate’s online presence to surface any hidden risks. We are thrilled to partner with Darrin and his team to help scale Ferretly worldwide.”
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.
To learn more about Ferretly, visit their website at https://www.ferretly.com.
Ferretly provides a cloud-based SaaS platform that leverages artificial intelligence to assess candidate risk. 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. This ultimately helps to reduce turnover, create a more safe environment, and mitigate risk to brands.