Argyle, which is building a “gateway to access employment records,” announced Thursday a $20 million Series A funding round led by Bain Capital Ventures.
The New York-based startup launched in 2018 with the mission of unlocking and democratizing access to employment records. Essentially, it gives companies and institutions – such as banks, lenders and insurance companies – a quick and easy way to access an applicant’s employment records. And it does it in such a way that the employees are providing consent to that access.
According to Argyle CEO and co-founder Shmulik Fishman, this is a big difference from the strategy employed by a credit bureau that buys data from employers, houses them in a database and then charges companies “a very exorbitant price” to access them without user consent. “Today most workers do not have open access to their own employment records and there are no national standards for employers to follow regarding how employment records are stored or organized,” Fishman said. “We’re out to replace that model and essentially give workers more ownership over their data,” Fishman said.
Argyle plans to use its new capital to “enable a normalized data set into every employee database.” It raised $2.6 million in September 2019 seed round.
Announcement: Argyle Raises $20M for Employment Records