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Analysis · HR & Future of Work

TraqCheck raises ₹75 Cr in Series A to expand globally and scale AI capabilities

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Date
Company
TraqCheck
What it does
AI-driven background check platform
Kind
Analysis
Amount
$8 Mn
Stage
Series A
Founded
2020
Sector
HR & Future of Work

What they do

TraqCheck is an AI-driven platform that helps enterprises conduct background checks of their employees and is building an AI agent for talent acquisition

What happened

The company raised ₹75 Cr in a Series A round led by IvyCap Ventures to accelerate expansion across Europe and scale its AI capabilities

Why it matters

TraqCheck serves 300 clients across India and the EU and aims to capture a share of the growing HR tech market, projected to reach $2.3 Bn by 2034

The details

  • TraqCheck has raised ₹75 Cr in a Series A funding round led by IvyCap Ventures.
  • The funding will be used to expand globally, particularly in Europe, and to scale its AI capabilities.
  • TraqCheck is an AI-driven platform that helps enterprises conduct background checks of their employees.
  • The company is also building an AI agent for talent acquisition.
  • TraqCheck currently serves 300 clients across India and the EU.
  • The startup aims to capture a share of the HR tech market, which is projected to reach $2.3 Bn by 2034.

The bigger picture

  • The HR tech market is growing rapidly, with a projected value of $2.3 Bn by 2034, making it an attractive sector for expansion.
  • The Series A funding will help TraqCheck scale its AI capabilities and enter new markets.
  • The company's focus on AI-driven solutions aligns with the increasing demand for automated and efficient HR processes.

About the business

  • TraqCheck provides AI-driven background check services for enterprises.
  • The company also builds AI agents for talent acquisition, helping businesses streamline hiring processes.
  • It currently serves 300 clients across India and the EU.
  • The startup is expanding its operations to Europe as part of its global growth strategy.
  • The HR tech market is expected to grow to $2.3 Bn by 2034, offering significant opportunities for TraqCheck.

What happens next

  • TraqCheck plans to expand globally, particularly in Europe.
  • The company aims to scale its AI capabilities to enhance its background check and talent acquisition services.

The deal

Type
funding

Investors

About TraqCheck

Product
AI agents for background verification, candidate sourcing and screening with products Trace and Nina
Customers
Global enterprises conducting hiring and background verification of employees across India and Europe
How it makes money
B2B SaaS platform charging per background check or enterprise subscription for HR automation
What sets it apart
Autonomous AI agents using deterministic LLM frameworks for real-time candidate sourcing and rapid background verification

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