Turn has raised $164.0M in total across 7 funding rounds.
Turn's investors include Binary Capital, Floodgate, Matrix, Norwest Venture Partners, Shasta Ventures, Jim Pallotta, Lisa Gansky, Sean Flynn, Shervin Pishevar, Tim Ferriss.
Turn Technologies (operating as Turn.ai) is a Chicago-based SaaS company providing an AI-powered background screening platform tailored for high-volume hiring of hourly, shift-based, gig, and contingent workers. It enables businesses to conduct fast, compliant identity checks, drug testing, and ongoing monitoring, serving platforms like gig economy apps and industries such as retail, hospitality, and on-demand services.[1][5][2] The platform solves key pain points in scaling hiring—speeding up onboarding (e.g., 1-day turnarounds), reducing costs (up to 40% in cases like Altar’d State), ensuring FCRA/EEOC compliance, and improving candidate conversion (e.g., 94% for Collective Retreats)—while integrating seamlessly with ATS/HRIS systems via API.[1][5][4]
Founded in 2016 with around 40-93 employees and $4-12.6M in revenue, Turn has shown strong growth, ranking No. 169 on America's Fastest-Growing Private Companies list with 3,053% three-year revenue growth by 2022.[2][3][4]
Turn Technologies was founded in 2016 in Chicago by its Founder & CEO (name not specified in sources), emerging from a "simple idea" to deliver background checks as fast as high-growth teams need them—especially for gig and on-demand workforces.[1][2][3] The concept addressed early gig economy challenges like managing 1099 workers, regulatory uncertainty, and inefficient screening for companies onboarding hundreds weekly or hourly gig workers.[2][1]
Early traction came from serving startups and established players like Saucey and Rinse, scaling into a national platform across 30+ industries with near real-time processing.[1][2] Pivotal moments include platform enhancements like the "Screen" update for faster adjudication and AI tools like ClarifAI for charge interpretation, plus recognitions such as top HR growth ranking in 2022.[4][5]
Turn rides the explosion of the gig and contingent workforce economy, where platforms like Uber, DoorDash, and on-demand services (e.g., Saucey, Rinse) must scale hiring amid labor shortages and compliance risks.[2][1] Timing is ideal post-2020 remote/gig boom, with AI addressing v1.0 inefficiencies like slow checks and regulatory hurdles for 1099 workers.[2][5]
Market forces favoring Turn include rising high-volume hiring demands (hourly/shift workers), drug testing mandates for safety, and AI's role in fairer, faster decisions amid EEOC scrutiny.[5][1] It influences the ecosystem by enabling gig platforms to onboard seamlessly, launch new models, and cut friction—e.g., Culinary Agents embedded checks for better trust/UX—while powering HR tech integrations across 30+ industries.[1][5]
(Note: Sources distinguish this Turn from a legacy adtech firm [6]; focus here is on Turn.ai's identity screening niche.[1][2])
Turn is poised to dominate AI-driven contingent screening as gig work evolves toward hybrid models blending W2/1099 labor, with expansions in monitoring, drug testing, and global compliance. Trends like AI adjudication, real-time risk alerts, and embedded monetization will fuel growth, potentially pushing revenue past $12M amid HR tech consolidation.[5][4][2]
Its influence may grow via deeper API ecosystems and partnerships, solidifying Chicago's HR SaaS hub status—turning a "small idea" into essential infrastructure for scaling teams safely and swiftly.[1]
Turn has raised $164.0M across 7 funding rounds. Most recently, it raised $80.0M Series E in January 2014.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2014 | $80.0M Series E | Binary Capital, Floodgate, Matrix, Norwest Venture Partners, Shasta Ventures, Jim Pallotta, Lisa Gansky, Sean Flynn, Shervin Pishevar, Tim Ferriss | |
| Jan 1, 2011 | $20.0M Series D | Binary Capital, Floodgate, Matrix, Norwest Venture Partners, Shasta Ventures, Jim Pallotta, Lisa Gansky, Sean Flynn, Shervin Pishevar, Tim Ferriss | |
| Aug 1, 2008 | $15.0M Series C | Binary Capital, Floodgate, Matrix, Norwest Venture Partners, Shasta Ventures, Jim Pallotta, Lisa Gansky, Sean Flynn, Shervin Pishevar, Tim Ferriss | |
| Feb 1, 2008 | $15.0M Series B | Matrix, Norwest Venture Partners, Jim Pallotta | |
| Sep 1, 2007 | $8.0M Series B | Binary Capital, Floodgate, Matrix, Norwest Venture Partners, Shasta Ventures, Jim Pallotta, Lisa Gansky, Sean Flynn, Shervin Pishevar, Tim Ferriss | |
| Nov 1, 2006 | $18.0M Venture Round | Binary Capital, Floodgate, Matrix, Norwest Venture Partners, Shasta Ventures, Jim Pallotta, Lisa Gansky, Sean Flynn, Shervin Pishevar, Tim Ferriss | |
| Dec 1, 2004 | $8.0M Series A | Matrix, Norwest Venture Partners, Jim Pallotta |
