Veremark, a prominent global workplace trust company, has announced its acquisition of Singapore-based background verification firm, Risk Management Intelligence (RMI). This strategic move is a key component of Veremark's international expansion strategy, significantly bolstering its presence and operational capabilities throughout the Asia-Pacific region. The acquisition reflects a growing industry trend towards consolidating screening services to meet the demands of an increasingly global and mobile workforce.
Strategic Expansion in Asia-Pacific
The integration brings RMI's experienced team of 70 specialists into the Veremark fold, immediately enhancing the company's regional service delivery. This acquisition strengthens crucial partnerships with key Singaporean institutions, including the Ministry of Manpower (MOM) and the Early Childhood Development Agency (ECDA). These established relationships provide Veremark with deeper access and credibility within the vital APAC market, reinforcing its local expertise.
Founded in 2012 by recruitment industry veteran Matthew Beath, RMI has built a strong reputation for its highly personalized and thorough background screening services. The company specializes in comprehensive verification by collaborating with university registrars, employment record teams, and local business authorities. RMI's methodology leverages public records and global sanctions lists to deliver accurate and reliable screening results for its clients.
A Pattern of Growth and Investment
This latest acquisition is part of a broader pattern of aggressive growth for the London-headquartered Veremark, with financial details of the deal remaining undisclosed. The move follows a successful $26 million Series B funding round and the recent purchase of Agenda Screening Services, another specialist firm. These consecutive strategic investments underscore Veremark's commitment to rapidly scaling its operations and solidifying its position as a market leader.
By absorbing RMI, Veremark significantly enhances its screening capabilities, particularly in specialized areas like government visa checks for the Singapore market. This expansion provides organizations with access to a fully compliant, end-to-end screening solution that covers the entire region. The synergy between the two companies promises a more comprehensive service offering for both existing and future clients operating in Asia.
Leadership Perspectives on the Merger
Daniel Callaghan, CEO and Co-Founder of Veremark, highlighted the importance of staying ahead in a world of accelerating global hiring and workforce mobility. He stated that RMI’s regional expertise and institutional partnerships are crucial for strengthening Veremark's international capabilities and workplace trust offerings. Callaghan emphasized that the combined entity will ensure employers can implement thorough background screening at scale anywhere in the world.
From RMI's perspective, General Manager Mervyn Ho described the merger as the "perfect fit" for the company's next chapter of growth. He assured existing customers and partners that business operations would continue seamlessly, but now with the added benefit of Veremark's backing. Ho expressed excitement about the enhanced capabilities and global offering that the acquisition makes possible for RMI.
The acquisition of Risk Management Intelligence by Veremark represents a significant consolidation within the Asia-Pacific background screening industry. This strategic union combines RMI's deep regional expertise and established partnerships with Veremark's advanced global platform and financial backing. Ultimately, the move positions the enhanced Veremark to better address the critical need for trust and safety in a rapidly evolving global employment landscape.