Certn, the leader in online background checks and identity verification services , announced today that it has raised an additional $30 million in Series B funding, with more than $29.5 million coming from Export Development Canada (EDC). To date, Certn has received more than $114 million in venture capital, including a total of $80 million raised through Series B financing. Certn acquired Australia’s InterCheck a year ago and the additional funding will help Certn expand its revolutionary background check technology in the Asia Pacific market.
This additional funding round follows record revenue growth of 14,533% from 2018 to 2022, making Certn the fastest growing Canadian company based on Deloitte Canada’s Technology Fast 50 program second company.
For decades, EDC, Canada’s export credit agency, has pushed Canadian companies to aggressively enter new markets, reduce financial risk and expand their businesses. In addition to EDC, investors in this round of financing for Certn include B Capital (a strategic partner of Boston Consulting Group), Bank of Montreal, Gaingels, Covalent Ventures, Tribe, Inovia Capital, Telstra Ventures, Scribble, and Moxxie Ventures.
Andrew McLeod, CEO and co-founder of Certn, said: “We are very grateful for the support of EDC and are very pleased that this funding will be used to develop products and bring our technology to new users in international markets.” Asia Pacific District Managing Director Dan Oak added: “The funding will help Certn InterCheck access new opportunities through instant identity verification and faster criminal record checks, such as partnerships with partners in telecommunications, mining, mobility and government services.”
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Guillermo Freire, Senior Vice President of Mid-Market at EDC, said: “We are delighted to enter into a strategic partnership with Certn. The company has fundamentally changed the background check model through its online platform and fast, mobile process, which brings This is a huge opportunity.” Freire also said: “Certn’s innovative solutions for customers and its high growth potential in international markets are the reasons why EDC has made this important commitment to drive Certn to achieve impressive results. increase.”
The global expansion follows Certn’s acquisition of InterCheck and a partnership between UK-based Credence and Oz Companies. Certn provides international and domestic background checks and identity verification services for employers and complies with anti-money laundering (AML) regulations.
One of EDC’s focuses is to support the development of mid-sized companies, and is committed to establishing strategic partnerships with high-growth mid-sized companies like Certn, which are strategically positioned to accelerate export growth. By 2022, EDC will help more than 3,600 Canadian medium-sized companies accelerate their internationalization to enhance their global competitiveness.
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