USAFact, Inc. Company Profile
Background
USAFact, Inc. is a leading provider of pre-employment background screening services, established in 1987. With nearly 40 years of experience, the company has been instrumental in shaping the background screening industry, offering comprehensive solutions that assist businesses in making informed hiring decisions. USAFact's mission is to deliver accurate, timely, and compliant background checks, ensuring safe and productive work environments for its clients. The company's vision is to be the most trusted partner in background screening, recognized for its commitment to quality and customer service. Operating within the human resources and compliance industry, USAFact serves a diverse clientele, including Fortune 100 companies, small businesses, and non-profit organizations.
Key Strategic Focus
USAFact's strategic focus centers on providing tailored background screening solutions that meet the unique needs of each client. The company emphasizes compliance with evolving regulations, leveraging advanced technology to deliver efficient and accurate results. Core objectives include expanding market share, enhancing service offerings, and maintaining high customer satisfaction. Specific areas of specialization encompass employment background checks, drug testing, tenant screening, and loan origination verification. Key technologies utilized include the SmartHire platform, which offers dynamic and compliant pre-employment screening, and the IDChecker product, designed for efficient identity verification. USAFact primarily targets industries such as healthcare, government, education, security, financial services, insurance, food services, distribution, and transportation.
Financials and Funding
As of 2024, USAFact reported annual revenue of approximately $10.9 million, with a workforce of 112 employees, resulting in a revenue per employee ratio of $97,589. The company has experienced consistent growth, being recognized on the Inc. 5000 list of fastest-growing private companies for three consecutive years, from 2015 to 2017. While specific details regarding recent funding rounds are not publicly disclosed, USAFact's sustained growth and industry recognition underscore its strong financial position and commitment to expanding its service offerings.
Pipeline Development
USAFact continually enhances its service offerings to meet the evolving needs of its clients. The introduction of the IDChecker product exemplifies the company's dedication to innovation in background screening. This tool streamlines the identity verification process, reducing manual input and improving efficiency. Additionally, USAFact's SmartHire platform provides dynamic and compliant pre-employment screening, reflecting the company's commitment to leveraging technology for superior service delivery.
Technological Platform and Innovation
USAFact distinguishes itself through the development and implementation of proprietary technologies that enhance the efficiency and accuracy of its services.
- Proprietary Technologies: The SmartHire platform offers dynamic and compliant pre-employment screening, while the IDChecker product facilitates efficient identity verification.
- Significant Scientific Methods: USAFact employs advanced data analytics and machine learning algorithms to process and interpret background information, ensuring comprehensive and accurate results.
Leadership Team
USAFact's leadership team comprises experienced professionals dedicated to the company's mission and strategic objectives.
- Matthew Davidson: Chief Executive Officer (CEO). With over 30 years in the background screening industry, Davidson has been instrumental in USAFact's growth and innovation.
- Laurie Beem: Vice President of Finance and Controller. Beem oversees financial operations, ensuring fiscal responsibility and strategic financial planning.
- Gene Pearlman: Vice President of Business Development. Pearlman focuses on expanding USAFact's market presence and forging strategic partnerships.
- Megan Murphy: Vice President of Client Care and Business Development. Murphy is responsible for client relations and driving business growth through customer-focused strategies.
- Jeffrey Miller: Vice President of Marketing and Sales. Miller leads marketing initiatives and sales strategies to enhance brand visibility and revenue.
- Cheryl Franklin: Vice President of Operations. Franklin manages day-to-day operations, ensuring service excellence and operational efficiency.
Leadership Changes
Specific details regarding recent leadership changes or appointments within USAFact are not publicly disclosed. The company's leadership team remains committed to driving innovation and maintaining high standards of service delivery.
Competitor Profile
Market Insights and Dynamics
The background screening industry is characterized by a growing emphasis on compliance, data security, and technological innovation. As businesses increasingly recognize the importance of thorough background checks in mitigating risks, the demand for comprehensive screening services continues to rise. The market is competitive, with numerous players offering a range of services from basic background checks to advanced analytics and identity verification solutions.
Competitor Analysis
USAFact faces competition from several key players in the background screening industry, including:
- Mitratech: A global leader in legal, risk, compliance, and HR technology, Mitratech offers comprehensive solutions that help organizations manage their workforce and ensure compliance across various stages of the employee lifecycle.
- S2Verify, LLC: A full-service background screening provider offering services such as criminal background checks, drug testing, employment and education verification, and onboarding support.
- Foley: Provides services that enable companies in the hiring and onboarding process, including general and driver-specific compliance solutions.
- Edge Information Management, Inc.: Specializes in employment screening, drug testing, and electronic I-9 and E-Verify services, serving a diverse clientele across various industries.
Strategic Collaborations and Partnerships
USAFact has established strategic partnerships to enhance its service offerings and market reach:
- Richard Childress Racing: In September 2021, USAFact partnered with Richard Childress Racing to provide SmartHire global screening services, highlighting the company's commitment to delivering high-quality background screening solutions.
Operational Insights
USAFact differentiates itself through its customer-centric approach, leveraging advanced technology to deliver efficient and accurate background screening services. The company's commitment to compliance and data security positions it favorably in the competitive landscape, enabling it to meet the diverse needs of its clientele effectively.
Strategic Opportunities and Future Directions
USAFact is well-positioned to capitalize on the growing demand for comprehensive background screening services. Opportunities for expansion include enhancing technological capabilities, exploring new market segments, and strengthening strategic partnerships. The company's focus on innovation and customer service excellence provides a solid foundation for achieving future objectives and sustaining growth in the evolving market.
Contact Information
- Website: www.usafact.com
- Social Media: Facebook - USAFact
