Canadian Startup Secures $80M in Series B Investments
Victoria, CANADA, April 20, 2023 — Today Certn, a leader in background checks and identity verification, announced it secured $30M in Series B funding led by Export Development Canada with contributions from Bank of Montreal and Gaingels. Certn has raised over $114M in venture funding with $80M coming via the latest Series B round. This additional funding helps Certn expand its AI background screening in EMEA and APAC markets.
This round follows a period of record revenue growth to the tune of 14533% from 2018 to 2022 — making Certn the second-fastest growing Canadian company according to Deloitte Canada’s Technology Fast 50™ program.
Since 1944, Export Development Canada (EDC), the Government of Canada’s export credit agency, has been helping Canadian companies grow internationally. EDC, Bank of Montreal, and Gaingels join other Series B investors including B Capital, a strategic partner of Boston Consulting Group, Tribe, Inovia Capital, Telstra Ventures, Scribble, Moxxie Ventures, and Gaingels Covalent Ventures.
CEO and Co-Founder, Certn Andrew McLeod said: “We’re grateful for EDC’s support and excited to put this funding toward product development and to bring our technology to new users.” McLeod added, “This funding helps us help new clients, especially those in the gig economy, access more opportunities through online screening and instant identity verification.”
Senior Vice-President, EDC Guillermo Freire said: “Certn has fundamentally changed background screening and how people hire with its quick, online processes.” Freire added, “But what’s also exciting are Certn’s applications outside HR, like with the gig economy. This kind of innovative problem solving is an important part of what we fund.”
70% of gig workers say they use multiple platforms. Faster online verification is needed more than ever as consumer demand for gig-enabled services grows. This expansion follows Certn’s acquisition of InterCheck in Australia and Credence Background Screening in the United Kingdom.
One of EDC’s corporate priorities is building strategic relationships with companies like Certn who are strategically positioned for accelerated export growth. In 2022, EDC supported over 3,600 medium-sized Canadian companies boost their global competitiveness.
About Certn
Certn offers better experiences for everyone. Certn is revolutionizing background screening with the easiest-to-use online platform, 24/7 customer support, and fast and compliant results from global databases. Why wait? Trusted by 10,000+ clients, Certn helps businesses hire faster and manage risk — all while delivering user experiences that help them stand out. Learn more at certn.co.
About Export Development Canada
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.
Contact
Gabe Velenosi
Media Centre
Certn
1-844-987-0690
media@certn.co
Media Centre
Export Development Canada
1-888-222-4065
media@edc.ca