The HR systems-focused AI enterprise startup TraqCheck has raised a bridge round for an undisclosed sum at a $17 million valuation.
Angel investors Siddharth Mehta (founder, Bay Capital) and Alok Oberoi (chairman, Everstone Capital) led the round, with Sivaramakrishnan S. Iyer (advisor, Bay Capital) also taking part.
The money will be used to launch new AI-based HR tools, expand its background verification product in India and Europe, and bolster its engineering, growth, and product teams.
TraqCheck, which was founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, creates AI agents for businesses, beginning with background checks.
Its product helps HR teams increase efficiency and compliance by automating screening procedures and cutting turnaround times using deterministic LLM frameworks. India has seen its growth, and more recently, Europe.
TraqCheck raised $14 million in its most recent round in 2023. Since then, it has expanded quickly, now catering to more than 200 business clients in the gig economy, staffing, healthcare, and BFSI. As demand for automated HR solutions increases, the company hopes to triple its revenue by 2025.
Global players in HR technology and background checks, such as HireRight, First Advantage, and Checkr, are competitors of TraqCheck.
