Checkr lands $100m for background check platform

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fintech insurtech wealthtech regtech ai cybertech esg news

Checkr, a provider of compliant background check tech platform, has raised $100m in Series C funding.

The round was led by funds and accounts managed by T. Rowe Price Associates, with participation from existing investors Accel and Y Combinator. It brings the company’s total fundraising to $149m, having raised $40m in its Series B financing round in 2016.

With new funds on-board, Checkr intends to accelerate expansion into enterprise sectors, including staffing and retail, and expand its background check technology, furthering the roles of artificial intelligence and machine learning within its core platform to increase speed, data insights and accuracy for its customers. It also plans to nearly double the team in 2018.

Led by Daniel Yanisse, CEO, Checkr provides a background check technology platform that enables companies of all sizes to hire people by understanding the dynamics of the changing workforce, and getting transparency and fairness to their hiring. It provides its services to a range of industries, including financial services, retail & hospitality, software & technology , healthcare, P2P marketplaces, and the non-profit sector, among others.

With the financial services industry subject to significant scrutiny with regard to information security and business ethics, it’s critical to remain compliant with complex, mandatory regulations. Checkr understands the risk associated with hiring new employees can result in potentially devastating consequences to the financial performance and reputation of an organisation.

In response Checkr provides compliance expertise with automated rules for uniformity. Its streamlined adverse action workflow helps users adhere to compliance requirements. The company’s technical infrastructure uses state-of-the-art data security and encryption techniques to protect personal information.

Checkr’s screening services include Identity Verification, Sex Offender Registry Check, Global Watchlist Check, National Criminal Records Check, County Civil Records Check, License and Certification Checks, Professional Reference Checks and Credit Check, among others.

The company said in the blog post: “At the core of Checkr, we are deeply committed to building and supporting a better future for workers by allowing the overlooked to have a fair chance at employment and providing companies with the insights to find the best candidates for the job.

“Since founding Checkr, we’ve been focused on providing fast, unbiased background checks, while championing a fairer future through fair chance hiring for the 70 million Americans with a criminal record. Now, four years laters, we’re running one million background checks per month for more than 10,000 customers and have helped these companies hire millions of people.”

Following the funding, the company also announced three new customers that have selected the platform for background checks: Adecco, Allstate, and Lyft, which joined Uber, Thumbtack, Zenefits, Warby Parker, Hot Topic and thousands of others.

Copyright © 2018 FinTech Global

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