TraqCheck Raises $8M for AI Recruitment Expansion
Co-founders discuss AI recruitment solutions in a bustling office.
Key Highlights
TraqCheck secures $8M in Series A funding led by IvyCap Ventures to expand its AI recruitment solutions in Europe and enhance its AI agent infrastructure.
TraqCheck, an enterprise tech startup focused on AI-driven recruitment solutions, has successfully raised $8 million (approximately ₹74.6 Cr) in its Series A funding round. The investment was led by IvyCap Ventures, with participation from IIFL, and is aimed at fueling the company’s expansion into the European market.
The startup plans to allocate the fresh capital to broaden its reach across Europe and increase the adoption of its background screening agent, ‘Trace,’ among enterprise clients. Additionally, part of the funding will support the scaling of Nina, TraqCheck’s recently launched real-time conversational sourcing AI agent.
Founded in 2020 by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck provides an AI-driven platform that assists enterprises in conducting employee background checks, including criminal record searches, education verification, and identity verification.
TraqCheck is now shifting its focus towards building an AI agent infrastructure for talent acquisition. The company asserts that its AI agents can source candidates in real-time, initiate outreach conversations, and directly introduce shortlisted candidates to hiring managers.
The company reports having over 300 enterprise customers across Europe and India, with key clients including Bajaj Capital, Cholamandalam Finance, Reliance , Samvardhana Motherson, Yatra, and Grant Thornton.
Prior to this Series A round, TraqCheck raised an undisclosed amount in its pre-Series A funding round, co-led by Caret Capital and Alok Oberoi, former Goldman Sachs executive and current chairman of Everstone Capital, at a valuation of $14 million. Lenskart cofounder Peyush Bansal is also among its backers.
This funding arrives as AI agents are increasingly integrated into enterprise workflows, offering efficient solutions across various teams and processes. Recruitment is one of the sectors experiencing significant AI disruption.
Consequently, startups offering AI-based recruitment solutions are attracting substantial investor interest. For example, TurboHire raised $6 million in its Series A funding, also led by IvyCap Ventures, to automate enterprise recruitment processes using agentic AI. Similarly, HR tech startup HireBound recently secured $2 million in seed funding to further develop its agentic AI engine, which oversees aspects of the recruiting lifecycle.