Tessa Bousfield posted an articleInvestors include include Atrium Ventures, Panache Ventures, Hello Ventures, and iNovia Capital see more
Author: Jessica Galang
Certn raises $975,000 to use AI for background checks
Victoria-based Certn, a background screening platform that uses AI to predict applicant behaviors, has raised a $975,000 seed round.
Investors in the round include Atrium Ventures, Panache Ventures, Hello Ventures, and iNovia Capital. Certn’s platform is targeted to property managers and financial institutions, and screens candidates to evaluate risk. The company said that property managers and lenders normally have to rely on credit scores to make an evaluation, which means missing out on potential clients that are underbanked and have low credit history.
“Our team has assembled the largest proprietary database of up-to-date, risk-scored information in the industry,” said Andrew McLeod, co-founder of Certn. “Our platform integrates into existing application processes or can be used as a stand-alone process, automating and streamlining the decision-making process, saving customers time and money. This latest round of funding will help us enhance our platform and provide the best value for our customers.”
Certn’s platform leverages credit reports, criminal and court cases, negative news on social media, and employment history to evaluate candidates’ credibility and character and predict future behaviour. The conversation about how to prevent human biases from being built into AI is an ongoing one, and BetaKit asked McLeod how the company addresses that issue.
“We never collect or analyze data that could violate an applicant’s human rights (race, religion, sexual preference, family status, et cetera),” said McLeod. “It’s also worth noting that we don’t look at photos or video, just text, with strict guidelines on what we can and cannot use. It’s not good for our business or our clients to discriminate. We want to make sure we choose the best applicants, regardless of how they look, or what they believe.”
In September 2017, Certn won $10,000 at the BCIC-New Ventures competition in the top regional startup category.
“The team at Certn are some of the hungriest entrepreneurs that I have ever met,” said Scott Lake, general partner at Hello Ventures and a co-founder of Shopify. “They hunt down every opportunity to find new ways of having more impact in more markets with their core technology, and that’s why they are poised for success.”
Tessa Bousfield posted an articleAtrium is pleased to announce its initial investment in Certn Holdings Inc. see more
Atrium Ventures Announces New Investment into Certn Holding’s Inc.
Kelowna, BC – Atrium Ventures VCC Inc. (Atrium), is pleased to announce its initial investment in Certn Holdings Inc. (Certn). Based in Victoria, British Columbia, Certn is the new standard in applicant screening and risk management tools for landlords, property management firms and credit issuers.
Certn has aggregated over 100,000 different databases to create a platform that provides a deep quantitative understanding of an applicant’s character and risk profile that is otherwise extremely hard to get. Using machine learning and AI, Certn validates social and public information to predict good and bad applicants from data derived from a customer’s online and social behaviour.
“We have assembled the largest proprietary database of continuously updated, risk-relevant and risk-scored information in the industry,” said Andrew McLeod, Certn Co-Founder. “Our solution can integrate into existing application processes or be used stand-alone, automating and streamlining the applicant decision-making process which generates significant time and cost savings.”
Led by experienced entrepreneurs Andrew McLeod, Owen Madrick and Evan Dalton, Certn has received several recent awards and recognition including winning the Top Regional Startup prize at the 2017 New Ventures BC competition, recipients of the 2017 Fundica Cup, nomination for the 2018 Innovative Excellence Award by the Victoria Advanced Technology Council and being listed on the 2018 Ready to Rocket list.
“We are very pleased to be supporting Certn during this period of rapid growth,” said Jeff Keen, Managing Director at Atrium. “The team has experienced significant early success, are executing on their strategy and have several very promising opportunities ahead.”
About Atrium Ventures (VCC) Inc.
Atrium Ventures is an entrepreneur led venture capital corporation that makes investments in promising new technology companies in British Columbia. Atrium’s institutional investment partners include Interior Saving Credit Union and the Southern Interior Development Initiative Trust.
About Certn Holdings Inc.
Certn is a platform used to predict the future behaviours of people. While quickly becoming one of the largest tenant screening providers in Canada, Certn has completely changed how applicant screening is done. Historically, applicant screening processes have not leveraged available data or artificial intelligence (Al) to effectively predict behavioural outcomes. By solely using credit reports or Google searches, lenders, employers, and property managers can be turning away great clients. With Certn, you can evaluate several dimensions of character, over millions of data points, to successfully determine an individual's credibility.
Media Contact: Jeff Keen, Managing Director