Veremark, a global workplace trust business offering pre-employment screening, background checks and whistleblowing software, has completed a £6.5 million employee and early investor secondary share sale on the London Stock Exchange’s Private Securities Market (PSM). The secondary investment was led by Gresham House with existing investors also participating. The transaction confirms Veremark’s valuation at c. £75m and marks the third employee share sale on the PSM.
Through its screening and background check services, Veremark helps employers increase security around who they bring into their business, a risk heightened by growing AI employee fraud. Since launching in 2020, Veremark has built an active customer base of over 8,000 clients globally, including OVO Energy and Schneider Electric. Year-on-year growth stood at 241% for H1. Headcount now exceeds 300 people across seven offices worldwide, including the UAE, New Zealand, the Philippines, Singapore, the United Kingdom and the USA.
Gresham House’s secondary investment follows its existing investment in Veremark’s £19 million Series B round in February, which also included Samaipata, ACF Investors and Stage 2 Capital. Crowdcube managed employee participation in the transaction and facilitated buy-side orders, acting as a Registered Auction Agent (RAA) for the PSM, having recently facilitated both the buy and sell side of the Wayve and Moneybox share sales. Singer Capital Markets acted as an RAA alongside Crowdcube on the buy side, while Cavendish executed Gresham House’s purchase in the auction. Veremark equity was also offered to qualified retail investors on the Crowdcube platform as part of the deal.
We have seen incredible growth at Veremark over the last few years, and this sale marks a key moment for our early employees and investors to reap the rewards of their work. Our ambitions to scale remain strong and with AI employee fraud growing, we are hyper-focused on helping companies fight this risk and increase security around who they are bringing into their business. This transaction will continue to help motivate our own team and through the relationship with LSEG, add the credibility and access needed for the next phase of growth.
Employee equity is a promise that people will share in the success they help create. Giving them the opportunity to realise some of that value along the way can strengthen their commitment to building for the long term. Our relationship with Veremark’s founders predates our first investment, and working closely with Daniel and the team has deepened our conviction in the business. We are delighted to extend our backing, helping employees and early investors realise value while supporting Veremark’s ambitious future. We are also proud to be an early participant in the London Stock Exchange’s Private Securities Market. It gives ambitious businesses another reason to build global companies from the UK.
Veremark’s completed share sale is another important milestone for the London Stock Exchange’s Private Securities Market. By supporting liquidity for employees and early investors, the market is helping innovative companies remain focused on long-term growth while giving a broader range of investors the opportunity to participate in the UK’s most dynamic private businesses.
