Chequed

Chequed.com provides a scientifically validated and predictive employee selection suite including behavioral assessment and reference checking for employment candidates via an online portal. The service will be used as a tool in the hiring process that reduces cost per hire, reduces time to hire and increases quality of hire for large corporations. The system is web-based software as a service (SaaS) and has an annual license, recurring revenue structure.

After successfully building and selling PeopleAnswers America, LLC, a behavioral assessment technology company, Greg Moran (the founder) conceived of the idea to apply a proven employee development concept to the recruitment and hiring process. Through a partnership with the Research Foundation of the State University of New York, the methodology for creating competency based, scientifically validated and highly predictive reference checking was created. Chequed.com has an exclusive license to the technology.

In order to accelerate speed to market, Chequed.com has negotiated the purchase of an existing provider of pre-employment assessment located in the Southern US. The acquisition has a 10 year track record, loyal customer base and recurring revenue. This acquisition will enable the Company to combine their existing assessment science and technology into the Chequed.com platform to create a full employment selection suite.

Initial targets are in 3 industries—Hospitality & Restaurant chains with 500+ employees (1,056 US companies), Hospitals with 250+ employees (4200 US) Retailers with $50M+ in sales (2,500 US). These industries are targeted because they have high volumes of hiring and applicants, frequently have less experienced hiring managers, and the management team has experience and contacts in all three segments. Future market expansion in large sales organizations, professional services, international and an e-commerce based tool for smaller businesses are all possible.

The Company seeks to raise $1,000,000 of convertible debt and has already raised $540,000 from founders and angel investor