Velocity Network Foundation

What Velocity Network Foundation does

Velocity Network Foundation is a 501(c) nonprofit membership organization founded in 2019 and headquartered in Denver, Colorado, operating a blockchain-based decentralized infrastructure for verifiable credentials branded as the "Internet of Careers." The Foundation convenes approximately 80 member organizations spanning employers, educational institutions, HR and education technology vendors, background-screening providers, staffing firms, and government agencies. Its mission is to build a global data utility layer for mission-critical processes across finance, employment, work, business, and collaboration, using tamper-proof cryptographically-signed credentials compliant with the W3C Verifiable Credentials specification.

The core technology stack includes the Velocity Network blockchain with Reputation Based Consensus, the $VELOCITY native token for network security and transaction-fee settlement, Velocity Credits as a reward and payment rail, the Credential Agent software for organizational issuance and verification, the Network Registrar for vetting and onboarding participants, and consumer-facing career wallets (Velocity Career Wallet, Knowkee, GreenLight, Verified) built on SDKs for Android, iOS, React Native, and Node.js. In August 2025, the Foundation began transitioning this technology stack, now branded Verii, to the Linux Foundation's Decentralized Trust initiative for open-source stewardship. Supporting API products include the Vendor Gateway API and Registrar API, with webhook integrations for real-time credential events and CSV-based batch issuing.

Monetization is multi-vector but limited in disclosure: membership dues from the ~80 member organizations, quote-based enterprise implementations of Credential Agent software, $VELOCITY-denominated verification transaction fees, and Velocity Credits paid out to issuers (a cost rather than revenue). Individual wallet use is free, positioning the protocol as a public utility. The Foundation runs two flagship go-to-market motions: a community-led growth model with workgroups, steering committees, and democratic board governance, plus an enterprise field sales motion that vets organizations through the registrar office before deploying the Credential Agent and integrating systems of record. The Foundation operates a 501(c)(3) arm called Velocity Charitable Foundation focused on statewide documentation, and has achieved 185-country credential reach and 47,000+ healthcare background screenings through the SkillsONWARD program with HCA Healthcare and partners.

Name

Velocity Network Foundation

Legal name

Velocity Network Foundation®

Website

https://velocitynetwork.foundation

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Velocity Network Foundation is a Denver-based 501(c) nonprofit operating a blockchain-based decentralized infrastructure for verifiable credentials, serving ~80 member employers, educational institutions, HR/EdTech vendors, and government agencies across 185 countries, with its technology stack (Velii) transitioning to the Linux Foundation's Decentralized Trust initiative.

Ownership category

akta.pro rank

Product category

Verifiable Credentials Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computer Systems Design and Related Services (54151)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Verifiable Credentials & Attestations (VC issuance/verification, credential registries) (FSAPACAH)

akta.pro secondary industries

Decentralized Identity & Verifiable Credentials for Finance (DID/KYC Reuse) (FSAGAMAE), Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD), Tokenization, Network Vaults & Credential Management (FSAGABAF)

Keywords

• Verifiable credentials
• Blockchain credentialing
• Decentralized identity
• Workforce credentialing
• Self-sovereign identity

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Network Transaction Fees: The Velocity Network uses the native $VELOCITY token to settle transaction fees for verification operations. Organizations pay transaction fees when credentials are verified on the Network. The token secures the network through Reputation Based Consensus.
2. Velocity Credits for Credential Issuance: Organizations earn Velocity Credits when they issue verifiable credentials to their constituents. The Network pays organizations for their contribution every time they issue a credential, monetizing their participation in the ecosystem.
3. Platform Integration and SDK Access: Finance, employment, work, business and collaboration software providers connect their platforms to Velocity Network to offer issuing and verification functionality. The technology is described as open source and royalty-free for participants.
4. Membership Dues: Velocity Network Foundation is a nonprofit membership organization. Organizations join as Members to participate in governance and access the Network. Members include employers, educational institutions, HR tech vendors, staffing firms, and credentialing platforms.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels11 records

Core offering

Velocity Network Foundation operates a public, blockchain-based decentralized utility layer (the Velocity Network) that enables organizations to issue and instantly verify tamper-proof, cryptographically signed verifiable digital credentials. Organizations deploy Credential Agent software to connect to the Network, while individuals use Career Wallet applications to claim, store, and share their education, employment, skills, and license credentials. The Foundation is a nonprofit membership organization that governs the Network, the $VELOCITY token, Velocity Credits payment rails, and developer SDKs/APIs for integration.

Product overview

Velocity Network Foundation operates a platform-plus-ecosystem architecture centered on the Velocity Network blockchain-based decentralized infrastructure for verifiable credentials. The core product is the Velocity Network itself (also branded as the Internet of Careers), a public utility layer enabling individuals to claim, own, and share verifiable career credentials. Supporting components include: the Credential Agent software for organizations to issue and verify credentials; the Network Registrar for onboarding organizations; and the $VELOCITY token for network security and Velocity Credits for payment/rewards. Multiple consumer-facing career wallet applications (Velocity Career Wallet, Verified Wallet, Knowkee Wallet, GreenLight Career Wallet) connect to the Network via Velocity SDKs. Organizations integrate via APIs including the Vendor Gateway API and Registrar API, with webhooks for real-time credential events and CSV batch issuing for bulk operations.

Differentiator

Problem solved

Functional benefit

Brands

• Verii: The technology stack of Velocity Network Foundation, including wallet SDKs, registrar services, credential issuer and verifier agents, and payment tools, now stewarded under the Linux Foundation's Decentralized Trust initiative.

Products and services

• Velocity Network A public, globally accessible blockchain-based decentralized utility layer (also branded 'Internet of Careers') for verifiable credentials that enables individuals to claim, own, and share career and education credentials across the global labor market. Powers mission-critical processes across finance, employment, work, business and collaboration.
• Credential Agent Software

Quantifiable outcome

• Verification time reduced from days to seconds
• +5 more outcomes

Named customers23 records

Segments11 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

Partnerships

37 partnerships are on record, tiered core, flagship and minor.

• Craft Education (WGU)coreStrategic or Co-development Partner · 1 March 2025New member in 2025. Building data infrastructure for work-based learning pathways with Craft Connect platform. Recently acquired by Western Governors University. Engaging in Arkansas employer ecosystem.
• Velocity Career LabscoreStrategic or Co-development Partner · 1 January 2019Co-founded Velocity Network Foundation alongside Velocity Career Labs, the developer of the core blockchain technology. CEO Dror Gurevich serves on the Board. Velocity Career Labs is a founding member and Node Operator. The technology stack (now Verii) originated from Velocity Career Labs development.
• HCA HealthcareflagshipStrategic or Co-development PartnerLeadership sponsor of SkillsONWARD healthcare program. Using Velocity Network for nurse credentialing and onboarding. CHRO Jennifer Berres and VP Mike Andrus featured in webinar on verifiable digital credentials. Healthcare employer actively adopting and promoting verifiable credentials.
• State of ArkansasflagshipStrategic or Co-development PartnerChief Data Officer Robert McGough serves on VNF Board. Pioneering statewide approach to verifiable credentials. Case example for VCF's statewide learning mobility initiative. Collaborating with Strada Education Foundation on open ecosystem documentation.
• Linux Foundation (LFDT)flagshipTechnology or IntegrationVelocity's core technology stack (Verii) transitioning to Linux Foundation's Decentralized Trust (LFDT) initiative for open-source stewardship. Includes wallet SDKs, registrar services, credential issuer/verifier agents, and payment tools.
• Learn & Work Ecosystem LibrarycoreStrategic or Co-development PartnerPartnership to advance credential transparency and interoperability. VNF contributed content on Verifiable Credentials, Trust Frameworks, and DLT. VNF's LER Requirements Document available through the Library. Joint development of embeddable glossary widget.
• Groningen Declaration Network (GDN)coreStrategic or Co-development PartnerSigned MOU for strategic collaboration. GDN joins as member and advisory board participant. Partnership combines VNF's credential exchange infrastructure with GDN's semantic layer expertise for academic and professional mobility.
• 1EdTechcoreTechnology or IntegrationFinalizing 1EdTech Open Badge 3.0 (OBv3) certification. VNF's trust framework complements OBv3 standards. Joint presentations at 1EdTech Digital Credentials Summit. Advisory Board member.
• Aspen Institute (UpSkill America)coreStrategic or Co-development PartnerFeatured interview with Cisive's Zach Daigle published by UpSkill America. Collaboration on verifiable credential insights for workforce development. Series of publications on verified credential value.
• Recruitment & Employment Confederation (REC)flagshipStrategic or Co-development PartnerUK staffing ecosystem project to integrate verifiable credentials. CEO Neil Carberry involved. REC issued RFP for platform enabling staffing firms to issue and verify credentials. Leadership convenings in London to advance initiative.
• Cisive/PreCheckflagshipStrategic or Co-development PartnerBoard member Zach Daigle (Chief Strategy and Customer Officer) leads adoption. Cisive's PreCheck service offering verifiable credentials to healthcare clients. Featured in Aspen Institute publication on driving value through innovation. Over 47,000 screenings in SkillsONWARD program.
• PreCheckcoreTechnology or IntegrationCisive's healthcare credentialing division. Partner in SkillsONWARD program with 47,000+ screenings. President Zach Daigle featured in Aspen Institute interview on verified credential insights.
• Strada Education FoundationcoreStrategic or Co-development PartnerCollaborating with State of Arkansas and VCF on statewide learning mobility initiative. Funding and strategic support for open ecosystem documentation and state adoption guidance.
• Beyond AcademicscoreStrategic or Co-development PartnerMember organization facilitating Miami Dade College partnership with HCA Healthcare and VNF. Working prototype using AI and blockchain for verifiable learner records. SkillsONWARD program participant.
• Galen College of NursingcoreStrategic or Co-development PartnerPiloting digital credential issuance for nursing students. Education partner in SkillsONWARD healthcare program. Credentials issued to graduates upon program completion.
• Credential EnginecoreTechnology or IntegrationBoard member Deb Everhart (Chief Strategy Officer). Partner contributing to credential transparency. Publishes credential registry for interoperability.
• AACRAOcoreStrategic or Co-development PartnerAdvisory Board member. General member organization. Association of registrars and admissions officers for education records.
• SAPcoreTechnology or IntegrationFounding member. Board member Sid Bhattacharya involved in AI and verifiable credentials thought leadership. HR technology integration partner.
• OraclecoreTechnology or IntegrationFounding member. Human Capital Management applications integrated with Velocity Network.
• CornerstonecoreTechnology or IntegrationFounding member. Learning and HR technology platform integrated with Velocity Network.
• RandstadcoreTechnology or IntegrationBoard member Glen Cathey (SVP Talent Advisory & Digital Strategy). Node Operator. Founding member. Active in UK staffing ecosystem with REC. Thought leadership on AI and verifiable credentials.
• Korn FerrycoreTechnology or IntegrationNode Operator. Board member Jean-Marc Laouchez contributed to AI and verifiable credentials article. Executive search and talent advisory.
• HireRightcoreTechnology or IntegrationBoard member Mark Baglia (Director of Product Management). Node Operator. Background screening integrated with Velocity Network.
• UKGcoreTechnology or IntegrationNode Operator. HR and workforce management technology integrated with Velocity Network.
• AONcoreTechnology or IntegrationFounding member. Node Operator. Assessment solutions integrated with Velocity Network.
• Milch und ZuckercoreTechnology or IntegrationBoard member Ingolf Teetz (CEO & Founder). Node Operator. Demoed Velocity-enabled Credential Manager at VEC spring event. German HR technology company.
• SumTotalcoreTechnology or IntegrationFounding member. HR technology platform integrated with Velocity Network.
• GreenLight CredentialscoreTechnology or IntegrationBoard member Shrikant Jannu (Chief Product Officer). Node Operator. GreenLight Career Wallet available on the Network.
• TalviewcoreTechnology or IntegrationBoard member Sanjoe Tom Jose (CEO & Founder). Assessment platform integrated with Velocity Network.
• Randa SolutionscoreTechnology or IntegrationNode Operator. General member. HR technology solutions integrated with Velocity Network.
• US Chamber of Commerce FoundationcoreStrategic or Co-development PartnerGeneral member. C3 Webinar Series collaboration on trust frameworks for digital career credentials. Experience You initiative for verifiable credentials.
• National Student ClearinghousecoreTechnology or IntegrationFounding member. Education data verification services integrated with Velocity Network.
• NCSBNcoreTechnology or IntegrationGeneral member. National Council of State Boards of Nursing integrated with Velocity Network for nurse credential verification.
• Digital PromiseminorStrategic or Co-development PartnerGeneral member. Education technology nonprofit focused on equitable innovation.
• SHRMcoreStrategic or Co-development PartnerGeneral member. Society for Human Resource Management integrated with Velocity Network for HR credentialing.
• NACEcoreStrategic or Co-development PartnerAdvisory Board member. National Association of Colleges and Employers. VNF presented at NACE25 Conference on credentials in the AI era.
• TerritoriumcoreTechnology or IntegrationGeneral member. Education technology company. Co-presented at 1EdTech Summit with GVSU on Open Badge 3.0 and Velocity Network alignment.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Others

• Credential Engine: Credential Engine is a nonprofit that publishes the Credential Registry and credential transparency data. Deb Everhart serves on Velocity's board. They operate in adjacent credential infrastructure space focused on credential discovery rather than verification.
• 1EdTech Consortium: 1EdTech is the standards body behind Open Badge 3.0, CLR (Comprehensive Learner Record), and other education technology standards. Velocity integrates with 1EdTech standards, making them both a partner and an indirect competitor setting interoperability rules for the ecosystem.

Direct peers

• Sertifier: Sertifier is a credentialing platform that issues and verifies digital certificates and badges. They are a partner in the SkillsONWARD healthcare ecosystem program, indicating direct overlap in issuing verifiable credentials for healthcare and education.
• Dock Labs: Dock Labs provides a blockchain-based verifiable credentials platform with focus on decentralized identity for workforce and consumer use cases. They directly compete with Velocity Network's credential issuance and verification capabilities.
• Credivera: Credivera is a direct competitor in the verifiable credentials space, offering a digital wallet and credential exchange for workforce and licensing credentials. Colin Strasburg, who leads ecosystem engagement at Credivera, sits on Velocity's board, indicating both companies operate in the same niche.

Broad incumbents

• Microsoft (Entra Verified ID): Microsoft Entra Verified ID is a decentralized identity solution from a global enterprise software incumbent. It competes with Velocity in the verifiable credentials space but benefits from built-in distribution through Azure AD and the broader Microsoft enterprise ecosystem.

Emerging players

• Indicio: Indicio is a decentralized identity technology company specializing in verifiable credentials and open-source tooling. They compete in the same verifiable credential infrastructure market with a focus on government and travel use cases.
• Hyland Credentials (formerly Learning Machine): Hyland Credentials, originally Learning Machine, pioneered blockchain-anchored digital credentials for education and workforce. They compete with Velocity in the verifiable credentials issuance market, particularly for educational institutions and governments.
• Digital Bazaar: Digital Bazaar is a key contributor to W3C Verifiable Credentials standards and provides infrastructure for decentralized identity. They operate in the same technical ecosystem as Velocity, with overlapping capabilities for credential issuance and verification.
• Transcrypts: Transcrypts is a blockchain-based document verification company that became a Velocity Network member in 2025. They compete in the verifiable credential verification space with a focus on document authenticity for employment and education records.

Market position

Strengths3 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/VelocityFdn
• YouTubeyoutube.com/channel/UCIacYdd-yXJ3uU2Its0-1rg
• LinkedInlinkedin.com/company/velocity-network-foundation
• Facebookfacebook.com/profile.php

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Velocity Network Foundation