Fama Technologies, Inc.: Fama Raises $10 Million to Help Employers Screen Job Candidates' Social Media Posts

Fama, a Los Angeles-based social media screening startup that allows companies to examine a job applicant's online presence, has raised $10 million in new funding.The Series B funding round was led by Austin, Texas-based venture capital firm Silverton Partners, with participation from Santa Monica-based Crosscut Ventures and Beverly Hills-based Navigate VC, among other VCs. Fama plans to use the funding to scale up its go-to-market team and develop new products, it said Tuesday.The startup aims to fill an emerging niche in the hiring process: its AI algorithm flags problematic social media content posted by a job candidate that an employer's human resources department may have missed in standard background checks. Fama claims to support more than 90% of the background screening industry, and counts 1,500 businesses in 32 countries among its clientele."The definition of a 'background check' has evolved substantially over the past five years," Fama founder and CEO Ben Mones said in a statement. "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."