TraqCheck raises funding from Caret Capital and Peyush Bansal's family office; Know about the startup

TraqCheck, established in November 2020 by Armaan Mehta, Jaibir Nihal Singh, and Rishabh Jain, has secured undisclosed funding from Caret Capital and Peyush Bansal's family office, Culture Cap. The startup specializes in AI-driven employee background verification, aiming to revolutionize the traditional market with innovative technologies.

By harnessing AI, TraqCheck accelerates hiring processes, cuts costs, and enhances verification accuracy, enabling companies to onboard new hires more efficiently. Claiming profitability since inception, the startup serves over 200 corporate clients, including prominent names like Bajaj Capital, Cholamandalam Finance, and Reliance Retail. With plans to expand globally within 2-4 years, TraqCheck aims to seize a substantial market share.

Caret Capital emphasizes the increasing demand for instant background verification services, particularly in industries adopting gig workforces. Prajakt Raut and Pankaj Bansal foresee a significant market opportunity for TraqCheck, given its AI-driven approach to swift and reliable verification, catering to the evolving needs of the corporate world.

TraqCheck's founders remain committed to their mission of empowering individuals and companies through data utilization. They aim to drive innovation in the background verification sector by continuously advancing AI technologies to optimize hiring processes. Welcoming Caret Capital and Culture Cap as partners, they express enthusiasm for the journey ahead.