- Checkr, a company that is making it easier for thousands of customers to hire millions of people every year, announced it raised $160 million at a $2.2 billion valuation
Checkr — a company that is on a mission to it easy for thousands of customers to hire millions of people every year at the speed of the gig economy through its advanced background check technology — announced recently that it raised $160 million at a valuation of $2.2 billion. This round of funding was led by funds and accounts advised by T. Rowe Price Associates. And Bond, Coatue, Accel, Y Combinator, and IVP also joined the round. This round is in addition to the $150 million that was previously raised.
“With consumer’s consent and control of their data, we believe in a better future where companies use data fairly and accurately to expand access to job opportunities for workers from diverse backgrounds,” said Checkr co-Founder and CEO Daniel Yanisse in a statement. “By bringing Checkr into new markets and building new hiring products, we can help more companies and workers around the world adapt to the future economy.”
There are an estimated 68 million contingent workers in the U.S. and the way people work is change. The flexible workforce is growing at a rate of 3 times the overall workforce. And by 2023, over half of the workforce are going to be independent workers. So it is important for companies of all sizes and industries to adopt higher-velocity hiring practices in order to compete for the war for talent.
With this round of funding, Checkr is planning to expand the functionality of its platform, improve accuracy and fairness while creating new products, and develop new international capabilities to align with the expansion plans of our customers operating globally.
“We first invested in Checkr because of our belief in the potential of the founders, and the opportunity to disrupt this category with an API-first approach,” added Rich Wong, a Partner at Accel. “In a short time, Daniel Yanisse and the Checkr team have become a critical player in the changing landscape of work, and at a faster pace than I could have expected. We’re proud to be supporters of Checkr as they continue to expand and further transform the approach to hiring.”
Ever since Checkr was founded in 2014, the company went from a background check API to a platform that processed more than 42 million background checks on job seekers for thousands of employers. And it is building an advanced hiring system through its artificial intelligence platform that reduces bias in the hiring process, a continuous checking feature that allows companies to receive updates about candidates’ potentially disqualifying criminal records, and identity verification and facial biometrics to mitigate identity fraud.
Some of Checkr’s newest customers include Elwood Staffing, PrideStaff, and One Call. These customers are joining brands like Adecco, Uber, Hot Topic, and a number of others who rely on Checkr’s technology for assessing and onboarding talent more fairly and efficiently.
