This further expands its reach in the background check sector.
Background checks are an essential part of the recruitment process.
Tech makes them easy for recruiters and candidates alike.
Meet Checkr, which has tapped into a new segment of the market by buying Inflection.
Recruitment processes go beyond interviews and assessments. As employers get closer to offering the role to a candidate, they need to carry out background checks and collect references.
Historically, this has been a very time-consuming, manual task for recruitment teams and candidates alike. But HR tech is now on hand to make the process quick and easy for everyone.
Examples of tech leading the way are Checkr, HiPeople, Veremark, and Capterra. Back in September, Checkr closed a $250 million Series E, which more than doubled its earlier valuation to a total of $4.6 billion.
Now Checkr is on a shopping spree. Hot on the heels of its acquisition of ModoHR (and its ScreeningCanada platform) in February 2022, Checkr has made its biggest purchase to date.
It has acquired Inflection point (and its portfolio companies Good Hire, Safe Decision API and Insight API) for an undisclosed sum.
This comes on the back of a stellar year for Good Hire. It’s seen an 80% increase in revenue, reached 100,000 customers and doubled up its headcount. Good Hire plans to continue to invest in its tech platform (with a focus on integrations with leading HR vendors), and in continuing to grow its team in the future.
Checkr’s interest in Good Hire is linked to its 100% online experience – an intuitive and easy-to-use solution is what employers need to win in this competitive war for talent.
Also, Good Hire primarily focuses on small businesses, which is a new market for Checkr.
Checkr CFO Naeem Ishaq noted: “Small businesses are the backbone of our economy, creating the vast majority of new jobs in North America.
“We’re excited that this strategic acquisition enables Checkr to tap into this incredible growth and further accelerate our fastest growing customer segment.”
Checkr CEO Daniel Yanisse continued: “This acquisition is bringing two of the most innovative companies in our space together.
“Our teams have so much in common: a focus on building delightful experiences for customers, very similar cultural values, and most importantly, a commitment to build a fairer future for workers.”
Watch this space. Will more acquisitions be in Checkr’s future?
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Chief Reporter, UNLEASH
Allie is an award-winning business journalist and can be reached at alexandra@unleash.ai.
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