Human resource tech firm Checkr has reportedly raised USD 250 million in a Series E funding round led by Durable Capital. The fresh funding valued the company at USD 4.6 billion.
New investors Franklin Templeton and Fidelity Management & Research Company LLC participated in the round, along with existing investors Khosla Ventures, IVP, Y Combinator, T. Rowe Price, BOND Capital, Coatue, and Accel.
Daniel Yanisse, CEO of Checkr said that the new funding will be used for innovative technology that will support workers with onboarding, identifying, engaging, and delivering pay & benefits “to build a fairer future”.
It is worth noting that Checkr has secured USD 550 million since its inception in 2014. The San Francisco-based technology company is well known for its API first products that can support a variety of hiring use cases for a large base of customers.
Partner of Durable Capital, Corey Shull, is excited about the collaboration. He believes that Checkr has an innovative ability to offer solutions that enable employers during their onboarding process and expanding talent securely and quickly.
Meanwhile, Accel partner Rich Wong commented that the company will support Checkr as it tackles the challenges that businesses encounter while recruiting and screening for the best candidates. He added that Checkr’s mission to deliver fair chance hiring will provide candidates with better opportunities.
Checkr leverages automation to process over 30 million background checks per year with the help of artificial intelligence, to make them easier, faster, accurate, and compliant.
Checkr delivers its services to companies of all sizes including Netflix Inc, U.S. ride-hailing platform Lyft Inc., Adecco, Instacart, Drift, Coinbase, and home rental company Airbnb Inc.
The HR technology company aims to help its clients in unblocking 3 million candidates in 2021, cited sources with knowledge of the matter.
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