Overview

Checkr provides background check services primarily for businesses, staffing agencies, and recruiters. Their platform allows clients to conduct thorough background screenings, which are essential for hiring trustworthy employees, especially in high-risk sectors. Checkr operates on a software-as-a-service (SaaS) model, where clients subscribe to access a user-friendly dashboard and various features that streamline the background check process. This includes compliance resources and partner integrations. Additionally, Checkr offers educational materials to promote fair hiring practices. The company generates revenue through subscription fees and charges for each background check performed. A unique offering is Checkr Assess, which helps clients significantly reduce talent acquisition costs. The goal of Checkr is to facilitate the hiring of reliable employees while ensuring fair hiring practices.

Simplify's Take

What believers are saying

• Increased demand for digital background checks boosts Checkr's remote verification capabilities.
• AI integration enhances Checkr's service accuracy and speed, meeting industry trends.
• Partnerships with ATS like Gem streamline hiring processes, expanding Checkr's service offerings.

What critics are saying

• Layoffs in San Francisco and Denver suggest potential financial instability or restructuring issues.
• Increased competition from new entrants like Argyle threatens Checkr's market share.
• Reliance on AI may expose Checkr to risks of algorithmic bias and regulatory challenges.

What makes Checkr unique

• Checkr offers rapid background checks using advanced AI and machine learning technologies.
• The company promotes fair hiring practices through educational resources and initiatives like Catalyst.
• Checkr's SaaS model provides a user-friendly platform with compliance resources and partner integrations.

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Funding

Total Funding

$550.1M

Above

Industry Average

Funded Over

6 Rounds

Notable Investors:

Coatue ManagementAccelY CombinatorSV Angel

Notable Investors:

Coatue ManagementAccelY CombinatorSV Angel

$250,000,000

Series E

Sep 2021

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.

Series E Funding Comparison

Above Average

Industry standards

Ind Avg. $100M

$30M

$245M

$250M

$250M

$1250M

$1500M

View all funding stages