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SAP.iO Fund Invests in Reference-Checking Startup Crosschq - SAP SE today announced that its investment arm, SAP.iO Fund, has backed Crosschq, a San Francisco based company that provides a platform for creating and sharing candidate references - Crosschq.com / SAP.iO
SAP.iO Fund Invests in Reference-Checking Startup Crosschq

 

NewswireToday - /newswire/ - Walldorf, Rhein-Neckar-Kreis, Germany, 2020/07/21 - SAP SE today announced that its investment arm, SAP.iO Fund, has backed Crosschq, a San Francisco based company that provides a platform for creating and sharing candidate references - Crosschq.com / SAP.iO. NYSE: SAP

   
 
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Crosschq’s platform gathers candidate references by automatically reaching out for references and storing them, eliminating the need for repeated reference requests as candidates progress through their careers. This means the background check process becomes objective, while at the same time ensuring better coverage of a candidate’s past work experiences.

Crosschq’s approach reduces unconscious bias by standardizing the reference process, which is otherwise conducted by reaching out to personal networks and may be subject to biases. Crosschq encourages reference providers to be thoughtful, honest and transparent when providing references.

“SAP strongly believes that the future of work is inclusive and diverse, and that starts with removing biases in the candidate experience,” said Ram Jambunathan, SAP senior vice president and managing director of SAP.iO. “Crosschq will bring increased objectivity and consistency to the candidate reference-checking process, thereby improving outcomes for both candidates and SAP customers.”

Founded in 2018, Crosschq (crosschq.com) is rapidly growing, and recently signed its 100th customer. Enterprises including Dish, the National Basketball Association, Upwork, Snowflake, NerdWallet and Glassdoor use Crosschq to enhance recruiting and make better hires.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

© 2020 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see sap.com/copyright for additional trademark information and notices.

Media Contact: Lesa Beber
P: +1 650-390-1629 - E: lesa.beber[.]sap.com, PT

 
 
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SAP.iO Fund Invests in Reference-Checking Startup Crosschq

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