EASTON, MD -- Ferretly, a software startup based in Easton, MD, has been awarded a $25,000 grant from the Perdue School of Business Philip E. & Carol R. Ratcliffe Foundation Shore Hatchery for second place finish among 50 companies which originally applied. The 1 minute, Shark Tank style pitch to a panel of Judges was highly competitive and awards were based on concept, clarity, feasibility, and potential value of the opportunity.
Ferretly is a powerfully simple web platform that allows organizations of any size to easily perform social media background screening on candidates and employees. It incorporates artificial intelligence to analyze both text and images of a subject’s public social media posts. The process is extremely intuitive and is typically performed in under 30 minutes – providing insight into behaviors such as toxic language, threats of violence, self-harm and insults and bullying. Founder and CEO Darrin Lipscomb was motivated to create the innovative software in 2018 given the staggering number of incidents of workplace violence and assaults happening to US companies every year and its correlation to an increase in social media use. According to OSHA, in 2017 alone, there were over 2 million victims of workplace violence.
"We are delighted by the early positive feedback we’ve garnered from our initial customers,” explains Darrin Lipscomb, CEO of Ferretly. “Our focus is on continuing to innovate and improve our offering and educating the market on the value that we provide, so this funding will allow us to accelerate both R&D as well as top-line growth."
Based in Easton, Ferretly launched their subscription service in June of 2019 and quickly gained traction in several markets including College athletic recruiting, professional sports teams, volunteer organizations and many other industries that place a high value on their company culture and brand.
"Ferretly is poised to be a leader in helping organizations make good hiring decisions," stated Kathy Kiernan, Shore Hatchery Judge & Principal at Open to the Possible Coaching & Consulting. "Darrin Lipscomb and his team are experienced, competent, and devoted to being best in class. It will be exciting watching Ferretly make its ascension."
Beyond the acclaim this Shore Hatchery award represents in terms of Ferretly technology innovation, another crucial success element is Ferretly’s dedication to remote job creation on Maryland’s Eastern Shore. From its inception, Ferretly’s CEO’s vision has embraced both new employment opportunities, and the trust in a remote workforce. While Ferretly maintains a Corporate office in Easton, its staff is largely composed of a remote workforce, thereby leveraging the numerous college campuses and talent across both the Eastern Shore as well as the United States as a whole.
About Ferretly International, LLC Ferretly International, LLC provides forward-thinking technologies that help organizations better manage risk. By incorporating machine learning and a modern cloud-based architecture, we are at the cutting edge of applying big data solutions and artificial intelligence to improve overall security and risk intelligence for the customers we serve.
About Shore Hatchery
The Perdue School of Business Philip E. & Carol R. Ratcliffe Foundation Shore Hatchery is a bi-annual Mid-Atlantic business competition. The Shore Hatchery is open to any Mid-Atlantic business startups. It is a five-year $1 million initiative, which began in 2013 and recently renewed for a second $1 million 5-year term. The program assists entrepreneurs in creating new jobs in the region. The goal of the Shore Hatchery is to reward individuals for their entrepreneurial efforts in the creation and growth of businesses with the potential of positively impacting regional employment within three years. Businesses are required to report back to the Shore Hatchery board annually on their progress.