Total amount raised
$679 Millions
Latest funding date
4/1/2022
Location
Checkr has successfully raised significant funding through multiple rounds, with the latest being a Series E. The company specializes in automating and expediting professional background checks, offering a range of services integrated with various HR systems.
Keep reading to explore the intricacies of Checkr's fundraising journey and the investors backing this innovative platform.
What Is Checkr?
Checkr, founded in 2014 by Daniel Yanisse and Jonathan Perichon, is headquartered in San Francisco, California. The company specializes in automating and expediting professional background checks, offering a range of services integrated with various HR systems.
With a workforce of 1001-5000 employees, Checkr provides a variety of background check services, including criminal, civil, driving records, and employment verifications. Their advanced technology ensures fast and accurate results, making them a trusted partner for many businesses.
Checkr's platform is designed to streamline the hiring process, reduce compliance risks, and improve the candidate experience. Their innovative solutions have positioned them as a leader in the background screening industry.
How Much Funding Has Checkr Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their background check platform.
- Series A
- Amount Raised: $9M
- Date: October 2014
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and scale their technology.
- Series B
- Amount Raised: $40M
- Date: March 2016
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their platform's capabilities and increase market reach.
- Series C
- Amount Raised: $100M
- Date: April 2018
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and expand their customer base.
- Series D
- Amount Raised: $160M
- Date: September 2019
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new product offerings.
- Series E
- Amount Raised: $250M
- Date: September 2021
- Lead Investors: Durable Capital Partners
- Valuation at Round: $4.6 billion
- Motivation Behind the Round: To support the growing need for innovative technology to manage a flexible workforce.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series E
- Amount Raised: $120M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding their market presence and technological capabilities.
Total Amount Raised: $679M. Current Valuation: $4.6 billion.
Key Investors
- Durable Capital Partners
- Details: Durable Capital Partners is a growth-oriented investment firm that focuses on long-term investments in both public and private companies. The firm is known for its strategic approach to fostering sustainable growth.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: Facebook, Dropbox, Slack.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding for early-stage startups. It has been instrumental in the growth of many successful companies.
- Investment Focus Areas: Technology, software, consumer internet.
- Notable Investments: Airbnb, Dropbox, Stripe.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that offers a broad range of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on early to late-stage investments in technology sectors. They are known for their innovative approach to investing.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Square, DoorDash, Impossible Foods.
What's Next for Checkr?
Checkr stands at the cusp of significant growth opportunities, driven by the increasing demand for efficient and reliable background check services. With a valuation of $4.6 billion and a robust customer base, the company is well-positioned to expand its market share. Leveraging AI and automation, Checkr aims to streamline hiring processes, making them faster and more inclusive.
Future fundraising opportunities appear promising, given the company's profitability and strong investor interest. Additional funding could fuel further technological advancements and market expansion. However, Checkr may face challenges such as regulatory compliance and competition from other HR tech firms. Navigating these hurdles will be crucial for sustained growth.
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