AI-powered social media screening for smarter hiringAccording to a 2018 CareerBuilder Survey, 70% of US-based employers use social media to screen candidates during the hiring process. And according to research conducted by Kellogg School of Management at Northwestern University, avoiding toxic hires can save companies, on average, $12,800 in turnover costs. And yet, there has been no efficient, unbiased and consistent way to perform these types of background screens until now. Ferretly makes this process fast, accurate, and effortless and, most importantly, consistent by providing an FCRA compliant report and full-featured application to manage the entire screening process.After 18 months of research and development, millions of posts and images analyzed, and thousands of background check... [Read More]
Funded
5%Min Investment
$1,000Amount Raised
$29,000Goal
$200K-$600KDays Left
43Easton, MD
Crowd Lustro Research Report
Ferretly
Industry:
General
Security Type:
Preferred
Preferred securities are a type of investment that generally offer higher yields than traditional fixed.
Equity Opportunity
Date Filed:
May 14, 2020
Date Expires:
July 11, 2020
Open to Investors
Valuation:
$4M
Platform:
SeedInvest
Use of Proceeds
Marketing: 25 - 30%
Inside Sales: 25 - 30%
Research & Development: 20 - 25%
General & Administrative: 10 - 15%
Enterprise Sales: 0 - 20%
Management
Darrin Lipscomb
CEO
Darrin Lipscomb is a 30-year veteran in the technology industry including launching several software and consulting startups with successful exits. His companies provided unique, forward-thinking solutions focused primarily on Fortune 500 companies and government organizations at the federal and state level. Prior to launching Ferretly, a powerfully simple application that incorporates AI to mitigate employment risk, Darrin was the Global CTO for Public Safety and Smart Cities division of Hitachi Data Systems that was formed from the acquisition of his company he founded called Avrio Group in 2014 which provided city-wide IoT sensors and a platform for geospatial modeling. Darrin has published numerous articles on smart cities, open source intelligence, and employee risk management. Mr. Lipscomb obtained his (M.S.) Master of Science degree in Systems Engineering from Virginia Tech with emphasis on decision support, system dynamics, and statistical modeling.
Craig Eddy
CTO
Craig Eddy has 30 years of experience in software engineering, development and management working for software startups and Federal Government contractors. He currently leads Ferretly’s long-term technology vision and is responsible for the overall software architecture and engineering. Prior to joining Ferretly, Craig was the chief architect at Empact Development where he managed the development of the Foreign Assistance Coordination and Tracking System (FACTS Info) for the US State Department. Craig was also cofounder for a CRM software startup and worked with Darrin for 10 years including after the acquisition of his company by Remedy. Craig has a B.S. in Electrical Engineering from Virginia Tech. Craig has published numerous books and articles on database and web development.
Deal Structure
Round type: Seed Round size: US $600,000 Minimum investment: US $1,000 Target Minimum: US $200,000 Raised to date: US $24,000 US $24,000 (under Reg CF only) Security Type: Preferred Equity Share price: US $10.0 Pre-Money valuation: US $4,000,000
Additional Reports
There are no additional research reports currently.
Key Deal Facts
- Achieved customer traction in the first nine months from product launch with over 200 online signups with over 50% paid
- Seven reseller deals from background screening companies in Atlanta, Florida, New York, New Jersey, Massachusetts, Ohio, Los Angeles, and Washington State
- Selected for HR Techology’s 2019 Pitchfest, designed to recognize innovation and contributions to the future of HR tech space
- Analyzed over 1 million posts, with over 13,000 flags; average turnaround times for comprehensive reports under 1 hour
- Founders are industry veterans with prior software and consulting companies and successful exits
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