TraqCheck lands $8M from IvyCap Ventures to automate hiring — TFN

Recruiters typically use separate instruments for sourcing, screening, and background checks. Manually connecting these techniques can result in errors and decelerate the method. Because of this, recruiters spend extra time dealing with software program than speaking to candidates.

TraqCheck was based in 2020 by Jaibir Nihal Singh and Armaan Mehta. The corporate lately raised $8 million in Sequence A funding, led by IvyCap Ventures and joined by IIFL Fintech Fund.

Earlier, TraqCheck raised a pre-Sequence A spherical led by Caret Capital and Alok Oberoi, a former Goldman Sachs govt. Peyush Bansal, co-founder of Lenskart, additionally invested as an angel. The newest funding will assist the corporate develop in Europe, enhance enterprise gross sales, and develop its two principal AI brokers.

TraqCheck’s platform makes use of its “Human Working System,” a set of AI brokers designed to deal with HR workflows from begin to end, not simply to assist with handbook duties. The primary agent, Hint, handles background checks, together with felony information, schooling, identification verification, and work historical past.

TraqCheck now works with virtually 300 enterprise purchasers, resembling Randstad Enterprise, Wipro, and The Digital Faculty. Its newer agent, Nina, helps with the early steps of hiring by discovering candidates, screening them in actual time, and sending certified candidates straight to hiring managers.

The corporate desires to deliver your complete recruitment course of right into a single workflow utilizing agentic AI, quite than simply including one other software.

For background screening, TraqCheck’s principal rivals are Checkr (US), Truework, and Certn. In agentic recruitment, rivals embrace TurboHire, which raised $6 million in Sequence A funding from IvyCap final yr, and HireBound, which lately bought $2 million in seed funding for the same strategy.

Properly-known ATS and HR platforms like Workday, Greenhouse, and Lever are including AI options. This provides TraqCheck a restricted time to face out as a local different.

With its Sequence A funding, TraqCheck plans to develop in Europe, develop its UK group to 25 individuals, and switch pilot initiatives with enterprises into long-term contracts.