Checkr just raised $9 Million in a funding round led by Accel Ventures!
Here is an excerpt from today's Wall Street Journal:
Checkr Inc., a startup that expedites background checks on new hires and delivers them in bulk to businesses, has secured $9 million to expand.
The company wants to overhaul what has been a time-consuming process by delivering reports as an API, or application programming interface, which automatically runs checks and connects to companies’ hiring systems. Checkr competes against the likes of Sterling Infosystems Inc. and newer startups including GoodHire Inc. and BeenVerified Inc.
Among Checkr’s 50 or so customers using the API to more quickly mobilize armies of freelance workers are on-demand companies like home delivery startup Instacart Inc., cleaning service Homejoy Inc. and onsite screen repair company iCracked Inc.
The company caught the attention of Accel Partners at Y Combinator’s Demo Day in August.
“It’s a combination of the $4 billion [background check] market and the right technology approach,” said Accel Partners Partner Rich Wong, who led the Series A round. “I’d say 70% or so of the companies we invest in these days are all about software reducing inefficiencies and cutting expenses. Big data is finding patterns in things that humans can’t.”
Mr. Wong said he also liked Checkr’s approach: Like online payment company Stripe Inc. and communications startup Twilio Inc., Checkr delivers reports in the form of an API, which automates the process and becomes part of the customer’s workflow.
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