AI enterprise startup TraqCheck, which focuses on automating HR systems, has raised a bridge funding round at a $17 million valuation. The round, with an undisclosed funding amount, was led by Alok Oberoi (Chairman, Everstone Capital) and Siddharth Mehta (Founder, Bay Capital), alongside Sivaramakrishnan S. Iyer (Advisor, Bay Capital).
Fueling HR automation growth
The fresh capital will be deployed to scale its background verification platform in India and Europe, expand teams in product, engineering, and growth, and roll out new AI-based HR tools.
Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck is building a suite of enterprise-focused AI agents, beginning with background verification. Its product leverages deterministic LLM frameworks to automate the screening process, reduce turnaround times, and enhance compliance helping HR teams achieve greater efficiency at scale.
Rapid traction and global expansion
Since raising its previous round in 2023 at a $14 million valuation, TraqCheck has seen rapid growth. The startup now serves 200+ enterprise clients across sectors such as BFSI, healthcare, staffing, and the gig economy. Recently, the company extended its operations into Europe, aligning with rising global demand for automated HR workflows.
Looking ahead, TraqCheck is targeting a 3x revenue jump in 2025, driven by enterprises increasingly shifting toward AI-first HR solutions.
Competitive landscape
TraqCheck operates in a competitive global market, going head-to-head with established players such as HireRight, First Advantage, and Checkr. However, its focus on deterministic AI models and strong early traction in emerging and developed markets may help carve a differentiated edge.
As enterprises prioritize faster, compliant, and automated HR processes, TraqCheck’s model positions it as a strong contender in shaping the next phase of HR technology.
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