Yardstik Inc. Raises $30 Million in Series B Funding
Yardstik Inc., based in Minneapolis, Minnesota, has successfully closed a $30 million Series B funding round. The round was led by Harbert Growth Partners, with additional participation from Rally Ventures, MissionOG, Crosslink Capital, Grotech Ventures, and Great North Ventures. Yardstik offers a Human Trust Platform that enables continuous monitoring of employee credibility, addressing potential workplace fraud and compliance challenges.
Enhancing Workplace Monitoring
Yardstik’s platform is designed to provide employers with a way to continuously assess and verify the credibility of their employees. This approach addresses a significant gap in traditional human resources practices, where background checks are typically conducted only at the hiring stage. By offering ongoing monitoring, Yardstik helps companies identify potential risks and fraudulent activities in a timely manner.
Use of Funds
The newly acquired capital is expected to be used to further develop Yardstik's technology and expand its market presence. The company aims to enhance its platform's capabilities in identity verification, fraud detection, and compliance management, ensuring that employers can maintain a secure and trustworthy workforce.
Strategic Investment
The investment from Harbert Growth Partners and other prominent venture capital firms highlights the increasing importance of continuous employee monitoring solutions in today's workforce. Yardstik's innovative approach to addressing workplace fraud and compliance issues positions it as a significant player in the industry.
Conclusion
With this latest funding round, Yardstik is set to advance its mission of providing comprehensive employee monitoring solutions. The company's Human Trust Platform is poised to play a crucial role in helping employers maintain a secure and compliant workplace environment.