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Chequed.com Announces $2M in New Funding

2013-05-31
SARATOGA SPRINGS, NY, Leading provider of cloud-based Predictive Talent Selection solutions, today announced that it has secured $2 million in funding in a round led by Cayuga Venture Fund.
Chequed.com, Inc., the leading provider of cloud-based Predictive Talent Selection (TM) solutions, today announced that it has secured $2 million in funding in a round led by Cayuga Venture Fund, a leading upstate New York-based technology and high-growth investment firm. This second round also includes participation from existing private and public investors, including Rand Capital, based in Buffalo, NY.

The proceeds will be used to expand Chequed.com's sales and marketing efforts and further build out its global technology solutions. Earlier this year, Chequed.com introduced its next generation suite of solutions, including: ChequedProfile(TM), ChequedFit(TM), ChequedInterview(TM), ChequedReference(TM) and ChequedAnalytics(TM). Together, these cloud-based SaaS applications have the power to fundamentally predict a new hire's future performance.

Chequed.com Chief Executive Officer Greg Moran states, "Chequed.com continues to enjoy tremendous growth based on our ability to understand our customers' human capital challenges and our team's unparalleled ability to create technology solutions that optimize talent selection processes without adding unnecessary complexity." He continues, "We're excited to be expanding our relationships with the investment community, and we're using those funds to bring new and even more powerful data-driven innovations to enterprises worldwide."

Cayuga Venture Fund Managing Partner Zachary Shulman adds, "Demand for technology innovators that more effectively manage human capital assets is increasing markedly. Chequed.com's landscape-changing predictive talent selection solutions are proven to lead to better hiring decisions, vast productivity improvements and significant cost savings." He continues, "We're very impressed with management's vision and ability to execute, as well as the team's growing roster of global customers. We believe the company plays a leadership role in providing such solutions to Fortune 1000 and international customers." Concurrent with this financing, Mr. Shulman will join the Board of Directors at Chequed.com.

About Cayuga Ventures:
Cayuga Venture Fund focuses on creating a thriving upstate New York community with its portfolio of leading edge, high-tech companies. Based in Ithaca, N.Y., the firm makes seed to growth stage investments in companies that have attributes such as innovative technology, significant market potential and management teams with a proven track record. For more information, visit: http://www.cvf.biz.

About Chequed.com:
Chequed.com delivers a comprehensive suite of cloud-based talent selection solutions engineered to predict a new hire's future performance. Based in Saratoga Springs, NY, Chequed.com's Predictive Talent SelectionTM Suite, which is delivered globally, includes: ChequedProfileTM, ChequedFitTM, ChequedInterview(TM), ChequedReference(TM) and ChequedAnalytics(TM). In partnership with the University at Albany, Chequed.com works with organizations to implement best practices in talent selection, which are scientifically proven to reduce cost per hire, increase quality of hire and improve organizational productivity. For more information, visit http://www.Chequed.com.
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