US-based employment data platform developer Argyle received $55m in series B funding from investors including identity-verification software producer Checkr on Tuesday.
Venture capital firm SignalFire led the round, which also featured Bedrock Capital and Bain Capital Ventures.
Founded in 2018, Argyle provides a cloud-based platform that allows for the verification of employees’ employment history and past salaries on a user-permissioned basis. It will use the capital to grow its in-house engineering team, international footprint and go-to-market operations.
The changing work landscape, with the growth of gig workers and different employment models require solutions are needed to verify identity, employment and payment.
Argyle claims its services are used by more than 500,000 employers in the US, including nearly all gig workers and 60% of Fortune 500 companies, covering in excess of 170 million employees.
Checkr also took part in Argyle’s $20m Bain Capital-led series A round in late 2020. It included F-Prime, a VC subsidiary of investment and financial services group Fidelity, along with Bedrock Capital and assorted angel investors, and followed $2.6m in a 2019 seed round co-led by Checkr and Bain Capital.
Argyle’s chief executive, Shmulik Fishman, said: “Workforce dynamics have evolved and it is time to disrupt the status quo. While Equifax blazed trails in the employment data industry, the landscape has changed forever. It requires a dramatically different approach to employment data. It must be user-permissioned, it must be real-time and it must be fair.”
