Checkr raises $160 million investment led by T. Rowe Price

Checkr today announced a $160 million round of funding at a valuation of $2.2 billion. The equity round was led by funds and accounts advised by T. Rowe Price Associates, Inc., joined by Bond, Coatue, and long-time investors Accel, Y Combinator, and IVP. This round is in addition to the $150 million previously raised.

Checkr will use the capital in three key areas:

  • Expanding the functionality of its platform, which allows businesses to reduce bias in their hiring process while onboarding the best talent in a safe, compliant manner;
  • Improving accuracy and fairness while creating new products to better serve customers; and
  • Developing new international capabilities to align with the expansion plans of our customers operating globally.

With an estimated 68 million contingent workers in the U.S. alone, the way we work is changing. The flexible workforce is now growing at a rate of three times the overall workforce, and by 2023, more than half of the workforce will be independent workers. Given record-low unemployment, companies of all sizes and industries are adopting higher-velocity hiring practices to compete in the war for talent.