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Eric Ly;; a cofounder of KarmaCheck;; wants to solve this with faster background checks. It raised $15 million in its Series A;; led by Velvet Sea Ventures;; and is now valued at $90 million. LinkedIn;; a social network for professionals;; has been successful at getting people to share their professional and educational history. But a challenge for the network is that there is no system in place to ensure that the information is accurate;; said Eric Ly;; one of LinkedIn's cofounders. In fact;; 34% of LinkedIn users said they lied about the information on their profiles;; a LendEdu survey found. Ly;; a cofounder of the background-check software startup KarmaCheck;; wants to solve this problem by speeding up the process of checking people's work and school history;; especially on networks such as LinkedIn. Previously;; background checks \"have been a very manual process;;\" Ly said. Employers verify degrees by calling educational institutes;; and they also need to sift through government databases for criminal records;; which can make the process of verifying personal information slow. KarmaCheck simplifies this process by being a \"one-stop shop;;\" Ly said. Companies can integrate its software into their human-resources systems to consolidate thousands of federal;; state;; and county data sets into one system. It uses \"a candidate-centric model;;\" he said — meaning a candidate's information that doesn't need to be rechecked;; such as education and employment history;; is stored on KarmaCheck's database. Ly said this could save companies time and money;; as traditionally it would be checked every time. Ly mentioned the risk of lying about work experience even at the highest levels of the corporate world. Some high-profile cases have come out over the years;; including that of Scott Thompson;; a former Yahoo CEO whose résumé listed a computer-science degree. But Thompson graduated with an accounting degree. Then there was David Tovar;; a Walmart spokesperson who said he had a bachelor's degree from the University of Delaware. His two-decade-old lie was caught after a background check for a promotion. KarmaCheck announced last week that it raised $15 million in its Series A round;; led by Velvet Sea Ventures;; which brought its valuation to $90 million. This came after it raised $4 million in February;; completing its seed round. The company's software is being used by more than 100 customers;; including food companies such as McDonald's and Domino's; Clover and Lume in the healthcare industry; and staffing marketplaces such as Recruiter.com. While KarmaCheck has been around since 2018;; it intends to use the funding to create awareness of its brand by reaching out to enterprise companies and small businesses. In the future;; KarmaCheck hopes to integrate blue-check icons;; similar to those on Twitter;; on LinkedIn profiles to show that its information has been verified. KarmaCheck's top competitors in background checks are Paycom;; RUN by ADP;; and VICTIG Screening Solutions. 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