Link to the original article: https://www.businesswire.com/news/home/20220222005129/en/Fama-Raises-a-10m-Series-B-to-Reinvent-Talent-Screening
LOS ANGELES–(BUSINESS WIRE)–Fama, the world’s largest social media screening company and a leader in applying AI to background screening services, announced its Series B investment this week. The company allows HR departments to leverage insights from the public web and bring them into their talent screening process. More than 1,500 businesses in 32 countries turn to Fama to help protect their brand and ensure a safe and welcoming workplace culture.
“The concept of the ‘workplace’ has changed and we want to ensure we’re offering a stop on a person’s professional journey that can help them as much as they help us. Fama is building the best team of the business and if our mission inspires you, please apply!”
Fama, which supports more than 90% of the background screening industry and the majority of the executive search industry, plans to use the funding to scale its go-to-market team, launch new products, and innovate for the future.
“The definition of a ‘background check’ has evolved substantially over the past five years. Businesses are finding that changes in the market – namely the enhanced focus on brand and reputation, the importance of developing a welcoming workplace culture – mean that their screening products need to cover new types of risk,” said Ben Mones, CEO and Founder of Fama. “It’s one of the main reasons that social media screening is the #1 area of new, planned product expansion for screening professionals the world over.”
Fama plans to use the funds to expand its partnerships team, drive more awareness about its solutions, and develop new products for its clients. The company also plans to deepen its relationships with its existing resale network, generating additional revenue streams for background screening firms, applicant tracking systems, and other HCM software providers.
Silverton Partners led Fama’s Series B alongside Bullpen Capital, Crosscut, Navigate VC, Gaingels, and a number of private investors. Based in Austin, TX, the VC firm works with entrepreneurs in high-growth industries to build lasting companies.
“We are excited to partner with Fama on their next phase of growth. Ben and team have built a durable and sustainable foundation for their business and we look forward to helping them scale. HR professionals need new tools to keep pace with the evolving expectations of their customers and employees, and Fama is uniquely poised to deliver the next generation of talent screening solutions,” said Roger Chen, Partner at Silverton.
Fama shifted to a remote-first work environment in 2020 and is hiring for a range of positions across an international talent pool. In a hyper competitive labor market, Fama believes its culture will help attract talent.
“The concept of the ‘workplace’ has changed and we want to ensure we’re offering a stop on a person’s professional journey that can help them as much as they help us. Fama is building the best team of the business and if our mission inspires you, please apply!”
About Fama
Fama is the world’s largest social media screening company and a leader in applying AI to background screening services. Enterprise HR and Talent leaders trust Fama to help identify candidate behaviors such as intolerance and harassment that are often missed in the hiring process. Fama is backed by some of the world’s leading venture capitalists and institutional investors and is headquartered in Los Angeles, CA.
About Silverton Partners
From idea to exit, the Silverton team works with exceptional entrepreneurs who are committed to attacking growth markets and building lasting companies. In partnering with Silverton, companies benefit from its deep network and lessons learned over many decades of operating and investing experience. Founded in 2006, Silverton Partners is based in Austin and has been the initial investor behind Apprentice, Wheel, WP Engine, SpareFoot, SailPoint, Silicon Labs, The Zebra, AlertMedia, SpyCloud, Convey, Aceable, Self Financial, and Billie among many others. CB Insights has recognized Silverton as the most active venture capital firm in Texas. For more information, visit www.silvertonpartners.com.
