"I doubt they needed this cash infusion, but it could make sense to drive even more growth." I doubt that's the case. If it is, then their management just made

"I doubt they needed this cash infusion, but it could make sense to drive even more growth." I doubt that's the case. If it is, then their management just made a huge mistake. Raising money always has a cost attached. Raise enough money and your exit strategy becomes very constrained -- i.e. fewer companies have the capital to acquire a company with higher valuations. Eventually IPO becomes your only option. Your investors would also expect you to generate a good ROI on the money they gave you. Unless the terms are ridiculously good, you shouldn't raise money willy-nilly. Checkr doesn't seem like a company that requires insane growth. There's no network effect to exploit. I doubt each additional customer or each additional background record improves their business on an unit by unit basis.