SAN FRANCISCO – Checkr, a leading a provider of employee background checks, has raised $250 million in a Series E round valuing the company at $4.6 billion. The round was led by Durable Capital, alongside new investors Fidelity Management & Research Company LLC, and Franklin Templeton with participation from all major current investors including BOND Capital, Khosla Ventures, IVP, T. Rowe Price, Coatue, Accel, and Y Combinator.
Checkr leverages automation to process over 30 million background checks annually using artificial intelligence to make them faster, easier, more accurate and compliant. Customers, large and small, including Lyft, Instacart, Netflix, Adecco, Airbnb, Drift, and Coinbase use Checkr to modernize their background check process and make hiring more efficient and inclusive.
“As the workforce becomes more flexible, people’s expectations are changing about where and how they work. We are seeing a growing need for innovative technology to support a new way of identifying, onboarding, engaging, and even delivering pay and benefits to workers. We plan to use the new funding to realize our vision to become the new infrastructure for the future of work and continue our mission to build a fairer future,” said Daniel Yanisse, Checkr CEO.
In all, Checkr has raised $550 million creating a technology company known for its API first products that support tens of thousands of customers in a variety of hiring use cases. Checkr has achieved and maintained profitability while continuing its rapid growth at a scale of several hundreds of millions of dollars in revenue per year.
“We’ve been impressed by the upward trajectory of Checkr, which we believe is well-positioned to grow even larger and scale its business. As the world shifts to a flexible workforce with more contractors and contingent labor, Checkr is unique in its ability to provide solutions that enable employers to expand and onboard talent quickly and securely. We’re excited to partner with Checkr as it pursues its strategy for long-term sustainable growth,” said Corey Shull, Partner of Durable Capital Partners LP.
“Businesses face a fast-changing environment in competing for the best talent, and we are proud to be continued investors behind the Checkr team in solving the challenges companies tackle in recruiting and screening for the best candidates. In addition, beyond the incredible growth and progress over the last seven years, we believe that Checkr’s mission of delivering fair chance hiring will create greater opportunities for all candidates,” said Rich Wong, Accel Partner.
Checkr has dual headquarters in San Francisco and Denver. The company recently announced it would open a third headquarters in Orlando and create 600 new jobs over the next three years.
