Truework, which offers income and employment verification solutions to the mortgage industry, is being acquired by Checkr, a $5 billion HR platform that helps companies like Kia, OpenAI and Birkenstock.
Terms of the deal were not divulged.
The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.
The deal allows Checkr to expand into an adjacent multi-billion dollar mortgage and lending market and further accelerates its growth in the enterprise segment.
Just as Checkr rebuilt background checks with technology at the core, Truework has redesigned the underwriting process by using AI and automation to simplify income and employment verification for lenders, property managers, and employers, the company says in a release.
Truework claims to be the first provider to connect every major verification method into one platform to reduce application friction, maximize coverage, and expedite applications.
Today Truework serves thousands of customers of all sizes—from small businesses to the largest financial institutions, including eight of the top ten US lenders by origination volume.
The acquisition enables Checkr to expand into employment verification, a multi-billion dollar market that is ripe for innovation and a better customer experience.
“Our acquisition of Truework is an important step in creating the data platform to power safe and fair decisions and allows us to enable new customers like lenders and property managers to make safe and fair decisions,” says Daniel Yanisse, co-founder and CEO of Checkr. “Our teams have much in common: use of AI and automation to simplify complexity, focus on the consumer experience, and most importantly, customer obsession and delight.”