Ride-sharing helped its business take off, but the company is now processing background checks for retailers like Hot Topic to staffing agencies like Adecco: a total of 42 million reviews and counting.
, also has an identity verification system to help counter people stealing identities to get a clean background check.
“It’s a very hard problem. Fraudsters and criminals are always going to find new ways to hack through the system, and like a security company, we always have to keep adding different technologies and solutions to keep improving,” Yanisse says. While many companies still pay per background check, Checkr’s new products have also helped it develop monthly subscription revenue—something both private and public investors tend to like. Yanisse declined to comment on the company’s financials, but said it was close to profitability, while an IPO was a few years off. Instead, he’s focused on Checkr expanding to the rest of the globe in 2020 and putting the new $160 million to use.
“It’s not an achievement on its own,” he says of doubling the company’s valuation. “It’s a validation of the strength of our position, having been able to grow beyond just technology companies.”
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