Argyle raises $55 million

New York-based Argyle closed a $55 million Series B round, bringing its total funding to $77.6 million. The startup, which was formed in 2018, provides an employment data platform that gives businesses real-time access to user-permissioned job records. Its content-driven service enables 75% of the U.S. workforce to access, verify, and share their income and employment information with lenders, landlords, and employers of their choice, at no charge.

According to the company, its coverage includes over 500,000 U.S. employers, including 60% of the Fortune 500, close to 100% of gig workers, and 170+ million U.S. employees.

“The meteoric rise of contractors, gig workers, and the creator economy necessitates new financial data infrastructure. Argyle is reinventing how employment data is managed, permissioned, evaluated, and used for good. That includes a fresh approach to modernizing outdated paper-based and low-data systems that block access to financial services for these workers. We’re proud to support the stellar team at Argyle and their mission to help businesses and institutions embrace the future of work.” – Ilya Kirnos, Founding Partner at SignalFire.

“Workforce dynamics have evolved and it’s time to disrupt the status quo. While Equifax blazed trails in the employment data industry, the landscape has changed forever. It requires a dramatically different approach to employment data. It must be user-permissioned. It must be real-time. And it must be fair. Argyle is innovating technology solutions that meet these criteria to provide equitable access to financial services and products to today’s workers. It’s been our fastest year of growth to date as we’ve been turning our mission into reality. Adoption of our platform continues to exceed our expectations because consumers, financial institutions, and employers are eager for an alternative or supplement to static and incomplete data from legacy systems.” – Argyle Founder and CEO Shmulik Fishman.

In similar news, last week Truv announced its $25 million Series A round. The company – much like Argyle – modernizes income and employment verification, but without direct access where workers can request to verify their information.

Bottom Line: If it can validate your employment, Argyle offers an alternative to antiquated and time-consuming verification processes.