Minneapolis, MN, October 17, 2023—Yardstik, a Trust & Safety Platform built to help high-volume hiring businesses safely hire, verify, and onboard workers at scale, has raised an additional $12 million in its most recent round of funding.
The expansion round is led by MissionOG with participation from existing investors Grotech Ventures, Rally Ventures, and Crosslink Capital.
The financing follows an impressive year of growth and product development for Yardstik. While other startups found themselves challenged by economic uncertainties, leaner teams, and tighter budgets, Yardstik saw over 300% growth in its customer base.
The success Yardstik experienced this past year is the result of its continued commitment to providing businesses in need of better trust and safety hiring tools with a more holistic, connected, and data-driven solution.
Earlier this year, Yardstik launched its Trust & Safety Platform. The platform is Yardstik’s answer to the question every high-volume hiring business, SaaS platform, and gig marketplace is asking itself today: how do we hire a lot of people, living in many different places, quickly and at scale without sacrificing trust and safety?
Yardstik meets this challenge head-on with its Trust & Safety Platform, and after a year of traction and success, the company is ready to double down.
“We’re thrilled to announce this new strategic partnership with the team at MissionOG, said Matt Meents, CEO & Founder at Yardstik. “Trust & Safety is a growing problem for every business, but especially for those navigating the new world of remote work, 1099 contractors, and the gig economy. The team at MissionOG has deep operational experience and knows exactly what a company at our stage of growth needs. We’re looking forward to working with them to bring our platform to more people,” he added.
Yardstik will use the infusion of capital to bring faster, more affordable screening, verification, and onboarding tools to businesses desperate for a better, more connected solution. These tools come at a time when businesses are being forced to address and solve for a rapid rise in the costs and risks associated with fraud in the hiring process.
“The way businesses and people work together is evolving rapidly. Existing tools businesses utilize are outdated, siloed, and hard to implement, ” said George Krautzel, Managing Partner at MissionOG. “By removing the trust and safety challenges associated with onboarding and monitoring workers, Yardstik’s customers can better focus on meeting the ever-increasing demands of their markets.”
In the coming months, Yardstik will introduce additional products and services that live within their Trust & Safety Platform. The company also plans to significantly increase its team, adding members to fill open roles in engineering, sales, marketing, legal, and technology.
Yardstik brings better Trust & Safety tools, workflows, and expertise to companies that need to quickly screen, verify, and hire the right people at scale. Yardstik’s holistic Trust & Safety Platform delivers best-in-class products and support to make screening, verification, and monitoring faster, safer, and more affordable for growing gig marketplaces, software platforms, and high-volume hiring businesses. For more information, visit https://yardstik.com.
MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software. To help accelerate their partner companies, the firm invests financial capital and leverages a broad network of industry experts. Headquartered in Philadelphia, MissionOG is led by a team that has effectively built and scaled companies through their various stages of growth to successful acquisitions. For more information, visit https://missionog.com.