Angel Investments
Employee background verification enabler TraqCheck raises bridge round at $17-M valuation
Delhi-based TraqCheck has raised a bridge funding round at a valuation of USD 17 million to strengthen its product suite for human resources. The round was led by angel investors Alok Oberoi (chairman, Everstone Capital) and Siddharth Mehta (founder, Bay Capital) with participation from Sivaramakrishnan S. Iyer, advisor at Bay Capital.The new funds will be used to scale background verification operations, accelerate new enterprise AI product launches, and hire talent in product, engineering, and growth functions across India and Europe.Founded in 2020 by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck is focused on developing deterministic large language model (LLM) frameworks for HR applications. Its flagship product, an AI agent for background verification, is currently operational across India and recently launched in Europe.
For FY24, TraqCheck had reported about INR 4 Cr in Operating Income and about INR 0.05 Cr in PAT.
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