AI enterprise startup TraqCheck has raised a bridge round at a $17 million valuation for an undisclosed amount, led by Alok Oberoi (Chairman, Everstone Capital) and Siddharth Mehta (Founder, Bay Capital), with participation from Sivaramakrishnan S. Iyer (Advisor, Bay Capital).
The fresh funds will be deployed to scale its background verification product in India and Europe, launch new AI-based HR tools, and strengthen teams across 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 platform leverages deterministic LLM frameworks to automate screening processes, reduce turnaround time, and improve HR compliance and efficiency.
The company has scaled across India and recently expanded into Europe, serving over 200 enterprise clients across BFSI, staffing, healthcare, and the gig economy.
TraqCheck last raised funding in 2023 at a $14 million valuation, marking a significant valuation jump in this round. It is now targeting a 3x revenue increase in 2025, driven by growing demand for automated HR solutions.
The startup competes with global HR and background verification giants such as HireRight, First Advantage, and Checkr.
By: Arushi Agarwal
