Checkr, a US-based human resources technology developer backed by technology conglomerate Alphabet, has raised $250m in a series E round led by Durable Capital.
Financial services firms Fidelity Management & Research (FMR), T Rowe Price, Franklin Templeton, BondCapital, Khosla Ventures, IVP, Coatue, Accel, and Y Combinator all backed the round, which valued Checkr at $4.6bn.
Checkr’s platform provides employers with comprehensive screening processes – using artificial intelligence and machine learning – to select prospective hires.
The platform is designed to take manual selection bias out of the equation, thereby maximising fairness in hiring and filtering our fraudulent applications.
The company has grown its workforce to over 400 employees since its founding in 2014.
Checkr raised $160m in its September 2019 series D round led by T Rowe Price and featuring Bond Capital, Coatue, IVP, Accel and Y Combinator. T Rowe Price also led the $100m series C in 2018, joined by Accel and Y Combinator.
Alphabet’s early-stage investment subsidiary GV took part in a Y Combinator-led $40m series B, which also included IVP and Accel, in 2016.
GV had already invested in a $9m series A in October 2014 alongside Accel, Khosla Ventures, SV Angel, Data Collective and assorted angel investors, following Checkr’s graduation from Y Combinator’s accelerator in August 2014 with a $120,000 investment.
Daniel Yanisse, chief executive of Checkr, said: “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 realise our vision to become the new infrastructure for the future of work and continue our mission to build a fairer future.”
