TraqCheck

Today, people are leading the charge to make hiring faster, secure, and accurate, especially among companies experiencing growth that cannot afford a poor talent decision. Longstanding background verification systems that are manual, slow, and error-prone have historically added delay into hiring cycles and opened gaps for trust. As the digital transformation dawns on every aspect of HR, there has become a crystalized demand for AI led verification tools that are ambitious and user-regulated.

TraqCheck, founded by Jaibir Nihal Singh, Armaan Mehta and Rishabh Jain, is in the sweet spot of this transformation. The company leverages artificial intelligence to provide automatic background verification and enables faster, more precise, compliant, and accurate results on checks. Their mission is to take masking work out of the hiring process by allowing HR teams to spend time with people, not paperwork. The platform takes advantage of a large language model (LLM), knowledge graphs, and deterministic agents to run checks on ID, criminal records, education, address history, and employment credentials. TraqCheck uses a Positive Adjudication Matrix to only raise queries during checks if it can highlight notable discrepancies for background screening, and take the noise out of the overall process.

Users can handle the entire verification process from a single dashboard located on the application. It is equipped with the ability to integrate with most applicant tracking systems (ATS), the process is seamless, and it has the ability to continuously monitor, meaning that if a change in status occurs post-hire the issue is flagged without the user needing to change any settings. Clients receive reports in real-time, notifications immediately, and the ability to perform audits regularly. Collaborations with Open AI and public databases provide the system with the ability to verify records but also provide a plain-language summary of complex red flags- for example, criminal charges or employment history anomalies.

TraqCheck works with over 200 companies- including clients like Reliance Retail, Bajaj Capital, Yatra, Samvardhana Motherson, Grant Thornton and others. These companies used TraqCheck’s services to facilitate an onboarding process, mitigate risk, and build an honest work culture. The Company’s AI-first website has reduced the turnaround time by an average of 90%, making it accessible to both large enterprises and early-stage startups. Their platform utilizes a flexible SaaS-based, pay-per-use pricing model, ensuring that businesses are only charged for the verifications conducted. This pricing model allows for cost-efficiency for startups and scale for enterprises. In addition to base and standard background checks, TraqCheck offers enterprise plans with levels, global checks, continuous monitoring, advanced reporting tools and services. They also offer premium models, with integrations with ATS platforms and dedicated support teams, which provide another revenue stream. Overall, their multi-faceted pricing model means that they can support clients with a variety of specific needs and keep sustainable profits, without compromising their overall profit margin.

In FY2024, TraqCheck generated ₹3.6 crore in operating revenue (approx. $435,000) and continues to be profitable—a rare thing for fast-scaling startups in the HR tech space. They have also maintained their lean, scalable operational model, based on AI technology and infrastructure which allows TraqCheck to maintain quality while minimizing costs. Earlier in 2024, the company completed a pre-Series A round of $14 million, led by Caret Capital, and included prominent investors such as Alok Oberoi, former head of Goldman Sachs’ international wealth division, Aakash Anand, founder of Bellavita and the family office for Peyush Bansal, founder of Lenskart. The new capital will support TraqCheck's international expansion (immediately to the UK), product development, and new hiring.

TraqCheck works in a crowded background verification sector with established firms and newer technology-led competitors. Some of their key competitors include AuthBridge, one of India's oldest verification companies providing employee screening and due diligence services; IDfy, with compliance solutions and identity verification, based out of Mumbai; Checkr, based out of San Francisco and providing high volume background checks for firms like Uber and Lyft; Onfido, a platform based out of London, provides document and biometric verification; and First Advantage, has a long history with legacy background screening systems, in other words, it is one of the first organizations that became a global leader in screening for various financial institutions. While the space is crowded, TraqCheck has established a strong differentiator. Their automation-first workflow model, real-time reporting, and OpenAI integrations creates a deeply reliable and efficient experience that most traditional providers will struggle to replicate, and typical employees working in the background screening sector have little control over the customer experience. Many competitors still rely heavily on manual workflows, however, TraqCheck's direct-to-consumer technology-first solution creates faster turnaround times, real-time reporting, better compliance, and lower cost - especially encouraging for today's fast-moving consumer companies.

In the future, the firm intends to grow its functionality even further by incorporating fraud detection and behavioural analytics tools that will help employers not only evaluate a candidate's prior behaviour but help predict future behavioural risks and where to be wary. The company will also deepen its integration with leading HR technology platforms to make TraqCheck a plug-and-play solution as it relates to the larger recruitment ecosystem. As co-founder Jaibir Nihal Singh states: "We want to make background verification as easy as ordering a cab." With ambition and its now large client base, fantastic investors, and a clear vision for the future, TraqCheck is setting out to make themselves indispensable to the modern hiring process. As the company scales and matures, it will reshape the way organisations build trust in team members the world over. To be clear, with its unique combination of AI-enabled tools, operational efficiency, and client-focused delivery, TraqCheck is not just re-imagining background checks, it is changing the hiring experience. The future of verification is digital, intelligent, and real-time, and TraqCheck is leading the charge.

Click here to access TraqCheck's website.