Fama Technologies Inc. has secured $10.0M in new funding from investors, marking a significant milestone for the company. The Los Angeles-headquartered firm, founded in 2015, specializes in modern candidate screening solutions that leverage online signals to help organizations make informed hiring decisions. This latest investment brings Fama's total capital raised to over $30M, underscoring continued investor confidence in its ethical AI technology and its approach to improving the hiring process.
Fama's platform is designed to identify candidate fit by highlighting professional attributes such as creativity, innovation, and problem-solving. Simultaneously, it works to surface potential misconduct, including violence, harassment, and fraud, using ethical AI. This approach assists talent teams in answering critical questions about how candidates might interact with coworkers or customers, thereby contributing to safer and more inclusive workplaces and improving overall employee retention.
The company's solutions are utilized by over 3,600 organizations to improve candidate quality, enhance employee retention, and ensure appropriate leadership placements. Fama emphasizes compliance, adhering to regulations such as the FCRA and GDPR, and integrates seamlessly with various HRIS, ATS, and background screening systems. This funding round is significant as it provides Fama with additional resources to advance its mission of making hiring great people easier and more effective.
Fama Technologies Inc. plans to strategically deploy the newly secured capital to accelerate its growth initiatives. This includes further investment in the development and refinement of its ethical AI technology, expanding its product offerings to meet evolving market needs, and increasing its market presence across various industries. The company aims to continue empowering organizations to build high-performing teams and foster positive workplace environments through its innovative and compliant screening solutions.
