raway is managed by Daniel A. Martinez of Di-Cypher & Associates.

World Extreme Cagefighting
Caraway was defeated via first round submission in his WEC debut against Mark Hominick on January 10, 2010 at WEC 46.

Caraway was expected to face Fredson Paixão on March 6, 2010 at WEC 47. However, an injury forced Caraway to withdraw and was replaced by Courtney Buck. Caraway instead fought Paixao on the WEC 50 card, and was defeated via split decision. Caraway was released from his contract after the back-to-back losses.

Post-WEC
Caraway defeated Marlin "Pit Bull" Weikel via rear naked choke on February 19, 2011 at CageSport MMA XIII.

The Ultimate Fighter
In 2011, Caraway had signed with the UFC to compete in The Ultimate Fighter: Team Bisping vs. Team Miller. In the first episode, Caraway fought Eric Marriott to gain entry into the Ultimate Fighter house. Caraway defeated Marriott via unanimous decision (20-18, 20-18, 20-18).

Caraway was picked as the second featherweight on Team Mayhem and the fourth overall. In the first preliminary bout of the season, Caraway was selected to fight Marcus Brimage. Caraway controlled Brimage on the ground throughout the first round, and in the second round won the fight via submission (rear-naked choke) to move onto the semi-finals. In the semi-finals, Caraway fought Diego Brandao, losing the fight via TKO (punches) in round one.

Ultimate Fighting Championship
Caraway made his UFC debut on December 3, 2011 at The Ultimate Fighter 14 Finale and fought against fellow Ultimate Fighter castmate, Dustin Neace. Caraway won the fight via submission (rear-naked choke) in the second round. A week before the fight Caraway was severely ill and almost had to pull out of the fight.

Caraway made his Bantamweight debut against Mitch Gagnon on July 21, 2012 at UFC 149. He won via rear naked choke submission in round 3.

Caraway was expected to face Mike Easton on December 8, 2012 at UFC on Fox 5, replacing an injured T.J. Dillashaw.  However, on November 21, Caraway pulled out of the bout an