Analysis & Comment

HR tech firm Checkr raises fresh capital at $4.6 billion valuation

(Reuters) – Checkr said on Wednesday it raised $250 million in capital in a late-stage funding round led by private equity investment firm Durable Capital, valuing the human resource technology company at $4.6 billion.

New investors Fidelity Management & Research Co and Franklin Templeton participated in the series E round, which also saw investments from existing backers including BOND Capital, Khosla Ventures, IVP, T. Rowe Price, Coatue, Accel and Y Combinator.

San Francisco-based Checkr, which runs background checks for customers, has so far raised $550 million since its inception in 2014. It said it processes over 30 million checks annually using its artificial intelligence-driven automation technology.

Its customers include the likes of Netflix Inc, U.S. ride-hailing platform Lyft Inc, cryptocurrency exchange Coinbase Global Inc and home rental company Airbnb Inc.

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