Certn – a leader in online background checks and identity verification – announced it has raised $30 million in Series B financing with over $29.5 million coming from Export Development Canada (EDC). So far, Certn has raised over $114 million in venture funding with $80 million coming via the latest Series B round. This additional funding round helps Certn expand its revolutionary background screening technology in EMEA and APAC markets.
This additional funding round follows a period of record revenue growth to the tune of 14,533% from 2018 to 2022, making Certn the second-fastest growing Canadian company. EDC – which is Canada’s export credit agency – has been helping Canadian companies for decades confidently enter new markets, reduce financial risk, and grow their business. And EDC joins other Series B investors including B Capital, a strategic partner of Boston Consulting Group, Bank of Montreal, Gaingels, Covalent Ventures, Tribe, Inovia Capital, Telstra Ventures, Scribble, and Moxxie Ventures.
Around 70% of gig workers say they use multiple platforms. And faster online verification is needed more than ever as consumer demand for gig-enabled services grows. This expansion follows Certn’s acquisition of InterCheck in Australia and Credence Background Screening in the United Kingdom.
One of EDC’s corporate priorities is supporting medium-sized companies. And EDC is committed to building strategic relationships with high-growth medium-sized companies like Certn, who are strategically positioned for accelerated export growth. Last year, EDC supported over 3,600 Canadian medium-sized companies, accelerating their international growth to boost their global competitiveness.
KEY QUOTES:
“We’re grateful for EDC’s support and excited to use this funding to bring our technology to international markets.”
- Andrew McLeod, CEO and Co-Founder of Certn
“We’re ready to solve new problems and this funding helps Certn empower new clients, like those in the gig economy and retail, travel, and hospitality sectors, to unlock more opportunities through seamless, instant identity verification.”
- Laura Main, Managing Director, North America
“We’re delighted by this strategic relationship with Certn. How the company has fundamentally changed background screening with its online platform and quick, mobile-enabled processes presents tremendous opportunity in the global marketplace. Their innovative approach to problem-solving for their clients combined with their high-growth potential in international markets is why EDC is making this important commitment to fuel and sustain Certn’s impressive growth.”
- Guillermo Freire, Senior Vice-President Mid-Market of EDC
