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Vault verify5/15/2023 Vault Verify’s platform implementation and ongoing service is completely free for HR departments, and the verifier community pays nominal administrative fees to get the records they need. “We’re thrilled to have PSG’s support as we aim to continue our growth and give valuable time back to HR professionals so they can focus on strategic initiatives within their organisations.” “We’re proud to partner with our clients to deliver a solution that we believe alleviates significant burden from HR teams tasked with facilitating time-consuming verification processes,” says Phillip Luizzo, CEO and COO of Vault Verify. With PSG’s investment, Vault Verify aims to continue the expansion of its customer base, which includes its plan of targeting many cyber security-conscious Fortune 500 companies. Today, the company integrates with numerous leading HCM platforms and plans to further build out its partnership ecosystem. Vault Verify’s API-driven verification model has meaningfully improved data security by completely removing the need for mass storage of employee data outside of an organisation’s data infrastructure and instead securely pulls individual data records in real-time. Vault Verify aims to create a better and more seamless experience for all stakeholders. Vault Verify’s proprietary API and software technology integrates with leading HR systems and pulls data records in real-time to automate the entire employment and income verification process, thereby reducing human involvement. Vault Verify has grown revenue rapidly over the last several years as leading companies have adopted the platform’s income and employment verification solution to automate tedious, non-value-add HR tasks. Financial terms were not disclosed.įounded in 2013, Vault Verify is led by industry veterans with extensive expertise in HR technology. PSG’s Adam Marcus, Managing Director, and Govind Anand, Principal, will join Vault Verify’s Board of Directors, along with Brian Kelly, Senior Advisor at PSG, who will join the Board as Chairman. The investment represents Vault Verify’s first institutional capital and aims to help accelerate the company’s investment in product innovation to help HR departments be more efficient and secure.
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