Checkr, initially focused on serving gig economy companies like Uber, DoorDash, and Instacart, has successfully expanded its reach to new verticals and enterprise clients. The company's growth strategy involved leveraging its innovative background check technology to address the needs of larger, more traditional businesses.
As Checkr broadened its focus, it attracted enterprise clients like OpenAI, seeking to ensure trust and safety in cutting-edge AI development; Birkenstock, valuing a streamlined and compliant hiring process for its retail expansion; and Kia, prioritizing driver safety and background checks in its automotive services.
By 2023, Checkr's revenue exceeded $700 million, nearly doubling its 2021 figures, with major enterprise clients, including OpenAI, Kia Corp., Birkenstock Holding and Subway. Checkr has also expanded into non-tech industries such as retail, manufacturing, and hospitality, further diversifying its customer base.
“We are seeing an explosion of job and work marketplaces for health care, for accountants, for any professional job that you can think of.”
Daniel Yanisse, Co-founder and CEO, Checkr
Source - https://www.bloomberg.com/news/articles/2024-11-27/checkr-boosts-sales-with-new-large-enterprise-clients?embedded-checkout=true
Revolutionizing background checks with AI
Daniel Yanisse envisions AI as a crucial tool for revolutionizing background checks, making them faster, more accurate, and less biased. His vision for Checkr leverages AI to transform the traditionally slow and manual process across all industries. Key aspects of AI's role in Yanisse's vision include:
- Data classification: AI organizes and categorizes complex, unstructured data from various sources, making background check information more readable and actionable.
- Improved accuracy: AI enhances name matching and record association, significantly increasing the accuracy of background checks.
- Bias reduction: By automating data classification for fact-based categories, AI helps remove human bias from the hiring process.
- Efficiency: AI streamlines the background check process, enabling faster turnaround times and scalability.
Yanisse emphasizes the importance of responsible AI use: "We've been using AI since 2018... It's a great technology to process data to ensure accuracy. It's much faster and much more accurate than humans. You can really limit errors and improve accuracy”.
Source - https://www.hbs.edu/managing-the-future-of-work/podcast/Pages/podcast-details.aspx?episode=8997362060