TraqCheck raises funding at $17 mn valuation to scale AI for HR in India and Europe
AI-driven HR start-up TraqCheck has closed a bridge round at a $17 million valuation to extend its product footprint across India and Europe. The round was led by Alok Oberoi (Everstone Capital) and Siddharth Mehta (Bay Capital), with participation from Bay Capital adviser Sivaramakrishnan S Iyer.
Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck builds enterprise tools on deterministic large language model frameworks. Its flagship: an AI-driven background verification agent now live across India and recently rolled out in Europe. The company says it serves 200+ organizations across banking, staffing, healthcare, and the gig economy, and expects to triple revenue this year. The new round lifts its valuation from $14 million to $17 million.
Where the capital goes
TraqCheck plans to speed up adoption of its verification platform, build new AI tools for enterprise HR, and hire across product, engineering, and growth roles in India and Europe. The stated goal is clear: compress cycle times in HR operations and reduce manual, repetitive work at scale.
"Our mission is to redefine how enterprises approach HR operations by embedding AI into resource-heavy processes. We're building for scale from day one, ensuring our solutions work seamlessly across geographies and sectors," said co-founder Jaibir Nihal Singh.
Investor Siddharth Mehta noted, "Background verification and HR automation are ripe for change through AI, and TraqCheck has positioned itself well to lead this transition."
Why HR leaders should care
Background checks slow down hiring, frustrate candidates, and drain team capacity. AI-led verification can shorten TATs, reduce manual review, and improve consistency in high-volume segments like gig and frontline hiring. That translates to cleaner funnels, faster onboarding, and better hiring economics.
European expansion will put TraqCheck's privacy posture under a microscope. GDPR enforcement around employee data, lawful bases, and vendor accountability remains strict. TraqCheck says it's investing in compliance frameworks to meet these standards, which should be a focal point in your vendor due diligence.
For reference, review the official GDPR text here: General Data Protection Regulation (EU) 2016/679.
What to evaluate before a pilot
- Use cases and scale: Define volume, SLA targets, and edge cases (contractors, interns, gig, cross-border hires).
- Workflow fit: Map integrations with your ATS/HRIS, SSO, ticketing, and document capture. Confirm APIs, webhooks, and event logs.
- Quality metrics: Track turnaround time, exception rates, false positives/negatives, and candidate satisfaction (NPS/CSAT).
- Policy and compliance: Validate lawful basis, Data Processing Agreement, retention windows, audit trails, and deletion protocols. Request a DPIA template and recent security assessments.
- Fairness controls: Ask for bias testing methods, escalation workflows, and human-in-the-loop review for adverse actions.
- Global operations: Confirm data residency, data transfer mechanisms, and localization for EU markets.
- Change management: Plan training for recruiters and ops, set clear SOPs, and define ownership for exceptions.
- Commercials and ROI: Model savings from reduced manual effort and faster time-to-start. Negotiate SLAs, credits, and exit clauses.
Product signals to watch
TraqCheck's deterministic LLM approach aims to deliver consistent outputs-useful in verification where predictability matters. Look for transparent model behavior, strong document parsing, reliable source checks, clear confidence scores, and easy dispute handling. Ask for references in your sector to validate performance at your scale and risk profile.
Beyond background checks
The company plans to move into broader HR use cases: talent acquisition workflows, compliance, and workforce management. For HR teams consolidating vendors, a suite approach can simplify ops-if the integrations are tight and the roadmap aligns with your priorities.
Bottom line for HR
If you are dealing with high hiring volumes or strict compliance standards, AI-led verification is worth a structured pilot. Keep your evaluation grounded in data quality, SLA reliability, and regulatory proof points. If TraqCheck continues to execute in India and the EU, it could become a credible option for HR teams seeking faster, cleaner hiring operations.
Building AI fluency across your HR org can speed up vendor evaluations and adoption. Explore practical upskilling options here: AI courses by job role.
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