Ferretly Secures $2.5 Million in Seed Funding to Enhance AI-Driven Social Media Vetting for Election Personnel
Ferretly, an AI-powered social media vetting startup, has successfully raised $2.5 million in seed funding and is launching an innovative platform designed to screen election personnel. Founded in 2019, Ferretly leverages advanced AI technology to scan social media and publicly accessible online data, identifying potential risks and behaviors that traditional background checks might miss.
The startup is the brainchild of Darrin Lipscomb, a seasoned entrepreneur who previously founded successful software companies Pipestream and Avrio, both of which were acquired by major players like BMC Software and Hitachi. Lipscomb's vision for Ferretly centers around helping hiring managers ensure that potential hires align with their company's values, focusing on the importance of character in the digital age.
“It’s really a question of character,” Lipscomb explained. “Traditional background checks focus on the physical world—what crimes have occurred offline. But as more of our lives move online, it’s crucial to consider the digital persona. We can provide hiring managers with unique insights into a candidate’s character based on their online behavior.”
As the 2024 presidential election approaches, Ferretly is introducing a new Election Personnel Screening Platform aimed at screening candidates, poll workers, canvassers, and other election personnel. This platform is designed to mitigate the risks associated with disruptive behaviors, using AI to assess digital red flags such as inflammatory rhetoric, hate speech, bullying, and connections to extremist groups.
Ferretly has also recently enhanced its image classification tool to detect offensive gestures, extremist symbols, and images of weapons. The platform’s ability to scan not only social media but also web pages and news articles adds another layer of thoroughness to its reports. These reports provide hiring managers with a concise summary of potential risks, flagged content, and behavioral insights.
Operating within the bounds of federal and state laws, Ferretly emphasizes that its tools, while potentially seen as invasive, are necessary in an era where online behavior can significantly impact employment opportunities. The startup's customer base spans 32 countries and includes over 1,000 clients from various industries, including notable names like Deloitte, Blizzard Entertainment, and Paramount Global.
In addition to corporate clients, Ferretly's tools are used by nonprofits, public sector organizations, and political parties in countries like the U.K., New Zealand, and Canada. The startup also plays a role in influencer vetting, ensuring that brands partner with individuals who uphold the company’s values and haven’t engaged in harmful online behavior.
The recent funding round was led by David Dickerson, Chairman and Founder of Accurate Background, a leading provider of employment background screening services. According to Lipscomb, the new capital will be allocated primarily to marketing efforts to increase awareness of Ferretly’s capabilities, with the remainder directed towards ongoing research and development.
With its cutting-edge technology and strategic funding, Ferretly is poised to make a significant impact in the world of social media vetting, particularly as it expands its focus to the critical area of election personnel screening.
