- LinkedIn has 810 million users, yet a study found that 34% of the information on its site was fake.
- 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. 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.
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