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Credential verification startup Parchment raises $10M

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Document verification startup Parchment has raised another $10 million in funding, the company announced today.

Parchment seeks to make the process of sharing important credentials a digital experience. Its service lets you obtain a verified digital version of things like transcripts, diplomas, and certification documents. You can also share those documents via Parchment whenever employers, educators, or other organizations request them.

Truthfully, I couldn’t tell you where I’ve stored my college diploma should I ever need it. Parchment could eliminate the irritating process of having to get copies of those documents through official channels (like requesting a copy of a transcript through a university).

Parchment said more than 5,500 education-focused organizations are using its service and that it has delivered over 5 million credentials over the last 12 months.

As for the funding, Parchment said it plans to use the additional capital to speed up product development. The follow-on funding was led by The Raine Group, with participation from Novak Biddle Venture Partners, Salmon River Capital, GSV Capital, and ICG Holdings.

Founded in 2003, the Scottsdale, Ariz.-based startup has raised a total of $45 million in funding to date.

More information:

Parchment is a leading technology company allowing learners, educators and employers to request, verify and share credentials in simple and secure ways. The platform has helped millions of people and thousands of schools and universit... read more »

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