TraqCheck, the Indian AI enterprise company founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain has managed to raise funds in a bridge round that valued the company at $17 million. The round was led by angel investors Alok Oberoi (chairman, Everstone Capital) and Siddharth Mehta (founder, Bay Capital) and also saw participation by Sivaramakrishnan S Iyer (advisor, Bay Capital) .
Built on cutting-edge deterministic LLM frameworks, TraqCheck’s AI Agent for background verification will be supercharged using this fresh infusion of capital. The AI Agent, which was the company’s first product, is widely used by organisations across India and has recently been launched in Europe too, making the firm popular in the B2B enterprise segment.
The funds will be used to scale background checks in addition to “building a suite of powerful new AI products that will finally bring HR into 2025. We’re moving fast, building harder, and setting a new standard for how HR teams operate,” said the founders.
TraqCheck’s products are already being used by hundreds of organisations across BFSI, staffing, healthcare, and the gig economy. It is looking to triple revenues this year with businesses demanding faster, more reliable and automated HR tools. TraqCheck’s last funding round valued the company at $14 million, with this round closing at a significantly higher valuation.
Given the backing by robust investors and leaders, the company is clearly on its way to becoming a global category leader in AI enterprise solutions for HR.
