TraqCheck raises bridge round at $17 Mn valuation

TraqCheck, an AI enterprise startup focused on HR systems, has raised a bridge round at a $17 million valuation, for an undisclosed amount

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, Bay Capital).

The proceeds will be used to scale its background verification product in India and Europe, launch new AI-based HR tools, and strengthen teams in product, engineering, and growth.

Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck builds AI agents for enterprises, starting with background verification. 

Its product uses deterministic LLM frameworks to automate screening processes and reduce turnaround times, helping HR teams improve compliance and efficiency. It has scaled across India and recently expanded into Europe.

TraqCheck raised its last round in 2023 at a $14 million valuation. Since then, it has grown rapidly, serving over 200 enterprise clients across BFSI, staffing, healthcare, and the gig economy. The firm is targeting a 3x revenue increase in 2025 as demand for automated HR solutions rises.

TraqCheck competes with global background verification and HR tech players like HireRight, First Advantage, and Checkr.