Key Takeaways
- • Yardstik closed a $30 million Series B funding round led by Harbert Growth Partners, bringing total capital raised to $65 million, with participation from Rally Ventures, MissionOG, Crosslink Capital, Grotech Ventures, and Great North Ventures.
- • The Minneapolis-based workforce risk software company reported 149% year-over-year revenue growth, 98% account retention over three years, and 99.4% customer satisfaction, demonstrating strong operational traction in the post-hire monitoring segment.
- • Series B proceeds will fund expansion of motor vehicle reports, OIG exclusion monitoring, and automated alerts for lapsed licenses, insurance, and certifications—extending workforce protection beyond initial hiring screening.
- • Yardstik's Human Trust Platform integrates background screening, identity verification, fraud detection, and continuous post-hire monitoring, addressing a market gap in ongoing workforce risk management rather than point-in-time hiring checks.
Summary
Yardstik, a Minneapolis-based workforce risk software company, closed a $30 million Series B funding round led by growth-stage investor Harbert Growth Partners. The round includes participation from the company's existing investor base: Rally Ventures, MissionOG, Crosslink Capital, Grotech Ventures, and Great North Ventures. This Series B brings Yardstik's total capital raised to $65 million.
The company operates a Human Trust Platform that consolidates multiple workforce risk functions—background screening, identity verification, fraud detection, and continuous post-hire monitoring—into a unified solution. The Series B funding will accelerate development of capabilities including motor vehicle reports, OIG (Office of Inspector General) exclusion monitoring, and automated alerts when employee licenses, insurance policies, or professional certifications expire. This product roadmap reflects a strategic shift toward ongoing workforce protection rather than reliance on single hire-day background checks.
Yardstik's operational metrics underscore investor confidence in the model. The company reported 149% year-over-year revenue growth and maintained a 98% account retention rate over the past three years. Customer satisfaction stands at 99.4%. These metrics, as disclosed by the company rather than independently audited figures, align with growth-stage software benchmarks and justify the expansion capital. Harbert Growth Partners general partner Brian Carney highlighted account retention as a key indicator of product-market fit and customer stickiness in the sector.
CEO Andrew Johnson positioned the capital deployment as essential to scaling post-hire workforce protection beyond traditional screening workflows. The funding reflects investor appetite for compliance and risk management software serving HR and staffing operations—a segment benefiting from regulatory complexity around background monitoring, credential verification, and exclusion list compliance.
The company operates a Human Trust Platform that consolidates multiple workforce risk functions—background screening, identity verification, fraud detection, and continuous post-hire monitoring—into a unified solution. The Series B funding will accelerate development of capabilities including motor vehicle reports, OIG (Office of Inspector General) exclusion monitoring, and automated alerts when employee licenses, insurance policies, or professional certifications expire. This product roadmap reflects a strategic shift toward ongoing workforce protection rather than reliance on single hire-day background checks.
Yardstik's operational metrics underscore investor confidence in the model. The company reported 149% year-over-year revenue growth and maintained a 98% account retention rate over the past three years. Customer satisfaction stands at 99.4%. These metrics, as disclosed by the company rather than independently audited figures, align with growth-stage software benchmarks and justify the expansion capital. Harbert Growth Partners general partner Brian Carney highlighted account retention as a key indicator of product-market fit and customer stickiness in the sector.
CEO Andrew Johnson positioned the capital deployment as essential to scaling post-hire workforce protection beyond traditional screening workflows. The funding reflects investor appetite for compliance and risk management software serving HR and staffing operations—a segment benefiting from regulatory complexity around background monitoring, credential verification, and exclusion list compliance.
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