NZ HR tech startup Checkmate secures $1.6M seed funding from Wavemaker
Checkmate, a provider of pre-employment screening solutions, announced the successful closure of its seed funding round, securing US$1.6 million from Wavemaker Partners, an early-stage venture capital firm based in Singapore.
The investment marks a significant milestone for the New Zealand-based startup as it gears up for a major expansion into the United States and Southeast Asia, with a particular focus on the Philippines.
Founded in 2019, Checkmate has emerged as a key player in addressing the inefficiencies and challenges associated with traditional hiring processes. The company's platform offers a streamlined solution for pre-employment background checks and reference verifications, catering to organisations seeking to simplify their recruitment procedures and enhance the accuracy of their hiring decisions.
The fresh capital injection will enable Checkmate to bolster its technological infrastructure and accelerate its expansion plans across new international markets. With a growing demand for effective and efficient hiring solutions, particularly in the rapidly evolving Southeast Asian market, Checkmate is poised to leverage its innovative technology to capture new opportunities and address the recruitment needs of organisations across the region.
Checkmate’s expansion strategy includes a targeted push into Southeast Asia, where the company aims to tap into emerging markets that are experiencing rapid growth and a rising demand for streamlined hiring processes. The Philippines, in particular, has been identified as a key market due to its dynamic workforce and increasing need for robust pre-employment screening solutions.
In a statement, Checkmate’s CEO expressed enthusiasm about the partnership with Wavemaker Partners, noting that the funding will significantly enhance the company’s ability to execute its international growth strategy.
"We are thrilled to partner with Wavemaker Partners, whose support will be instrumental in driving our expansion into the United States and Southeast Asia. This funding will enable us to strengthen our technology infrastructure, broaden our market presence, and continue delivering cutting-edge solutions that address the complexities of the modern hiring landscape."
Wavemaker Partners, known for its focus on early-stage investments in high-growth sectors, recognises the potential of Checkmate's technology and its strategic vision. The firm’s investment underscores its commitment to supporting innovative startups that are well-positioned to disrupt traditional industries and create value on a global scale.