Credential verification startup Parchment raises $10M

Document verification startup Parchment has raised another $10 million in funding, the company announced today.

Parchment seeks to make the process of sharing important credentials a digital experience. Its service lets you obtain a verified digital version of things like transcripts, diplomas, and certification documents. You can also share those documents via Parchment whenever employers, educators, or other organizations request them.

Truthfully, I couldn’t tell you where I’ve stored my college diploma should I ever need it. Parchment could eliminate the irritating process of having to get copies of those documents through official channels (like requesting a copy of a transcript through a university).

Parchment said more than 5,500 education-focused organizations are using its service and that it has delivered over 5 million credentials over the last 12 months.

As for the funding, Parchment said it plans to use the additional capital to speed up product development. The follow-on funding was led by The Raine Group, with participation from Novak Biddle Venture Partners, Salmon River Capital, GSV Capital, and ICG Holdings.

Founded in 2003, the Scottsdale, Ariz.-based startup has raised a total of $45 million in funding to date.