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TMCNet:  Checkr Announces $100 Million in Series C Funding Led by T. Rowe Price Associates, Inc. to Bring Its Technology to New Enterprise Sectors

[April 12, 2018]

Checkr Announces $100 Million in Series C Funding Led by T. Rowe Price Associates, Inc. to Bring Its Technology to New Enterprise Sectors

Checkr, the leading provider of modern and compliant background checks, today announced that it raised $100 million Series C funding from funds and accounts managed by T. Rowe Price Associates, Inc. with participation from existing investors Accel and Y Combinator. The company also announced three new customers that have selected Checkr's platform for background checks: Adecco, Allstate, and Lyft.

"Checkr's initial focus was on-demand companies where speed to hire and accuracy of background checks were critical. Now, four years later, we're seeing a continued shift to flexible work that companies and applicants must navigate," said Daniel Yanisse, CEO of Checkr. "Today's investment allows us to help the enterprise sector be successful in this new world of work by modernizing their background screening practices, optimizing their hiring to attract the talent they need."

In four years, Checkr has scaled to run one million background checks per month for more than 10,000 customers. This funding will accelerate Checkr's expansion into enterprise and help companies utilize their technology to better understand the demands of the changing workforce, bring transparency and fairness to their hiring, and ultimately build a better future for workers. In addition, Checkr will expand the role of artificial intelligence in its background check technology, increasing speed, data insights and accuracy for customers, and nearly double the Checkr team in 2018.

"Checkr is fundamentally changing the way companies manage their background screening and hiring needs," said Henry Ellenbogen, portfolio manager of the T. Rowe Price New Horizons Fund. "Their technology allows for more transparency, speed, and fairness, both to companies and to workers. We believe Checkr's high-quality leadership team has made impressive traction in the industry and that they can build a much larger company over time."

Exemplifying the company's continued growth and expansion to new sectors are new customers Adecco, Allstate, and Lyft. As the partner of choice, Checkr will be providing support for three diverse industries: staffing, insurance and on-demand rideshare. These new companies join the ranks of Uber, Thumbtack, Zenefits, Warby Parker, Hot Topic and thousands of others who rely on Checkr's background check platform to support their hiring needs.

About Checkr

Checkr's mission is to build a fairer future by improving understanding of the past. Our platform makes it easy for thousands of customers to hire millions of people every year at the speed of the gig economy. Using Checkr's advanced background check technology, companies of all sizes can better understand the dynamics of the changing workforce, bring transparency and fairness to their hiring, and ultimately build a better future for workers. For more information please visit: www.checkr.com.


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