This Business News Story Was Uncovered By Us From: https://www.under30ceo.com/employee-background-check-yardstik-30m/
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A Minneapolis company that screens workers has raised fresh growth capital, and Yardstik closed a $30 million round led by Harbert Growth Partners on August 27. The financing lifts the total capital to $65 million and funds a push beyond the traditional employee background check into ongoing monitoring.
For founders, the relevant detail is not the round size. It is the assumption underneath it, namely that worker risk does not end on someone’s first day. That reframing has cost implications for any company running contractors, drivers, licensed staff or remote hires, and it lands in the same year AI cybersecurity budgets moved from optional to expected.
The Deal in Brief
Harbert Growth Partners led the Series B. Rally Ventures, MissionOG, Crosslink Capital, Grotech Ventures and Great North Ventures all returned from earlier rounds.
Yardstik reports revenue growth of 149% year over year. The company has not disclosed a valuation. Its own announcement frames the raise around post-hire blind spots and workforce fraud.
Yardstik Series B at a glance
Detail
Figure
Amount raised
$30 million
Total raised
$65 million
Lead investor
Harbert Growth Partners
Revenue growth
149% year over year
Headquarters
Minneapolis, Minnesota
From One-Time Check to Continuous Monitoring
Yardstik describes what it is building as a workforce trust platform. The pieces include identity verification, screening, fraud detection and continuous monitoring, bundled rather than sold separately.
The roadmap is specific. The company plans to add motor-vehicle reports, exclusion monitoring, and automated alerts that fire when an employee’s license, insurance or certification lapses. Each of those is a check that most companies currently run once, if at all.
That is the wedge. A background check is a transaction. Continuous verification is a subscription, and subscriptions produce the revenue curves growth investors pay for.
Why a… Read More
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