Checkr vs Rippling: Revenue, Profit and Business Model
Checkr reported $800M of revenue in FY2025 and — of net income. Rippling reported $1B of revenue in FY2026 and — of net income.
Latest financial snapshot
Financial summary
Checkr
Checkr is private and does not publish audited statements, but it discloses headline figures. Revenue topped $700 million in 2024 and grew about 14% to more than $800 million gross in 2025, with net revenue (excluding government fees) above $500 million and, per the company, consistent profitability. It raised roughly $550 million in venture funding through its 2021 Series E ($250M at a $4.6B valuation) and has been valued at about $5 billion since April 2022. New CFO Tim Yarbrough said in April 2026 his focus is building the multi-product platform rather than an IPO timeline.
Rippling
Rippling is private and does not publish audited financials. Sacra estimates annualized revenue of about $850 million at the end of 2025 and $1 billion by March 2026. CNBC reported that Rippling crossed $1 billion in ARR in 2025. In April 2026 Parker Conrad said revenue was growing 78% year over year, and that growth had sped up for three straight quarters. Rippling has raised about $1.8 billion in equity, most recently a $450 million Series G in May 2025 at a $16.8 billion valuation, along with a $200 million employee tender offer.
Revenue and profit by year
Checkr
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $800M | — | 0.0% | +14.3% | Source |
| FY2024 | $700M | — | 0.0% | — | Source |
Rippling
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $1B | — | 0.0% | +17.6% | Source |
| FY2025 | $850M | — | 0.0% | — | Source |
Where the revenue comes from
Checkr
- Pay-per-report background screening
Not disclosed
Per-check and package fees for criminal, driving, drug and credential checks; gross revenue includes pass-through court and government fees.
- Verification products beyond hiring
Not disclosed
Truework income and employment verification for lenders, plus Checkr Trust API lookups for security and marketplace customers.
- Monitoring and add-ons
Not disclosed
Continuous criminal and MVR monitoring, compliance workflows and consumer Checkr Personal reports.
Rippling
- HR and payroll subscriptions
Per-employee monthly fees for payroll, benefits administration, time tracking and recruiting.
- IT subscriptions
Fees for app provisioning, single sign-on, password management and device management.
- Finance and global products
Spend management, bill pay, card interchange, plus employer-of-record and global payroll fees.
Business model and strategy
Checkr
How it makes money
Checkr is a B2B usage-based platform. Employers, gig platforms and lenders order verifications through its dashboard, more than 100 HR and applicant-tracking integrations, or a REST API, and pay per report or package. Gross revenue includes court access and other government fees Checkr passes through; net revenue strips those out, which is why Checkr reports both figures ($800M+ gross and $500M+ net in 2025).
Growth strategy
After winning gig platforms, Checkr moved upmarket into enterprise hiring (customers named in 2025 include Avis Budget Group, Philips, Extra Space Storage and Invitation Homes) and downmarket into SMBs through the roughly $400 million GoodHire purchase in 2022.
Competitive advantage
Checkr's edge is software speed and developer reach. Its API and integrations let platforms order and adjudicate checks without manual work, while its AI models normalize fragmented county court data and match records to the right person. Usage across gig, enterprise and SMB customers (via GoodHire) feeds what Checkr calls its People Data Graph, which it now reuses across Truework, Checkr Trust and Checkr Personal.
Rippling
How it makes money
Rippling sells subscription software, mostly priced per employee per month. Customers start with a core platform (the employee record, org chart and permissions) and add modules: payroll, benefits, time tracking and recruiting in HR; app provisioning, single sign-on and device management in IT; corporate cards, expenses and bill pay in finance; and employer-of-record and global payroll for staff abroad.
Growth strategy
Rippling grows by adding products to the same platform and selling them to existing customers, a strategy Conrad calls the 'compound startup'. Its current focus is on Rippling AI, which turns plain-language requests into actions across HR, IT and finance, on global payroll and employer-of-record services for companies hiring abroad, and on moving upmarket to larger employers.
Competitive advantage
Rippling built its HR, IT and finance products itself instead of buying them, so they all run on one data model. When an employee is hired, promoted or let go, that one change can update payroll, software access, the laptop and the card limit automatically. Competitors that grew through acquisitions or that only do one of these things usually need integrations to do the same work.
Questions about Checkr vs Rippling
Which company has higher revenue — Checkr, Inc. or Rippling (People Center, Inc.)?
Checkr, Inc. reported $800.0M (FY2025), while Rippling (People Center, Inc.) reported $1.0B (FY2026). By last reported revenue, Rippling (People Center, Inc.) is the larger business, with Checkr, Inc. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
Which is more financially efficient — Checkr, Inc. or Rippling (People Center, Inc.)?
Checkr, Inc. generates $800k / employee in revenue per employee. A comparable figure for Rippling (People Center, Inc.) requires matching employee and revenue data from the same reporting period.
How do Checkr, Inc. and Rippling (People Center, Inc.) make money?
Checkr, Inc. and Rippling (People Center, Inc.) generate revenue in fundamentally different ways. Checkr, Inc.: Checkr is a B2B usage-based platform. Rippling (People Center, Inc.): Rippling sells subscription software, mostly priced per employee per month.
Is Checkr, Inc. bigger than Rippling (People Center, Inc.)?
By last reported revenue, Rippling (People Center, Inc.) ($1.0B (FY2026)) is the larger company compared to Checkr, Inc. ($800.0M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Checkr vs Rippling overview