TraqCheck Raises $8 Mn To Build AI Agents For Recruitment
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Enterprise tech startup TraqCheck has raised $8 Mn (about ₹74.6 Cr) in its Series A funding round led by IvyCap Ventures, with participation from IIFL, to fuel its geographical expansion.
The startup plans to deploy the fresh capital to accelerate its expansion across the European market. Apart from this, it will use the funds to increase adoption of its background screening agent ‘Trace’ across enterprise customers.
A part of the capital will also be used for scaling its recently launched real-time conversational sourcing AI agent, Nina.
Founded in 2020 by Jaibir Nihal Singh, Armaan Mehta and Rishabh Jain, TraqCheck is an AI-driven platform that helps enterprises conduct background checks of employees including criminal search, education and identity verification.
The startup is now moving towards building AI agent infrastructure for talent acquisition. It claims its agents source candidates in real time, initiate outreach conversations, and introduce shortlisted candidates directly to hiring managers.
It claims to have more than 300 enterprise customers across Europe and India. It counts Bajaj Capital, Cholamandalam Finance, Reliance Retail, Samvardhana Motherson, Yatra, and Grant Thornton among its key customers.
Prior to this, TraqCheck raised an undisclosed amount of capital in its pre-Series A funding round, co-led by Caret Capital and former Goldman Sachs executive and current Everstone Capital chairman Alok Oberoi, at a valuation of $14 Mn. It also counts Lenskart cofounder Peyush Bansal among its backers.
The funding comes at a time when AI agents are taking over the enterprise workflow by offering efficient solutions for different teams and processes. Recruitment is among the many segments that are witnessing AI disruption.
As a result, startups providing AI-based recruitment solutions to enterprises are getting a lot of traction from investors. For instance, TurboHire raised $6 Mn in its Series A funding, led by IvyCap Ventures, last year. The startup leverages agentic AI to automate the enterprise recruitment process.
Similarly, HR tech startup HireBound recently raised $2 Mn in its seed funding round to further develop its agentic AI engine that oversees parts of the recruiting lifecycle.
The post TraqCheck Raises $8 Mn To Build AI Agents For Recruitment appeared first on Inc42 Media.
