HelloVerify India has raised an undisclosed amount of funding from Lead Angels network along with leading Silicon Valley investors like Y-Combinator, Data Collective & Venture Souq.
Hello Verify, an API background screening platform, witnessed 100% y-o-y in the last 6-months riding on 30 enterprise customer wins. The company has announced that it is landing bigger and larger contracts for background checks and is now working with over 105 of India’s largest and biggest corporates and startup unicorns.
Varun Mirchandani, Founder, Hello Verify, informed “We are here to disrupt the fast growing background screening space in 2 ways – replace traditional screening methodologies through robotic solutions and significantly improve upon the current client experience.We would also like to target millions of small businesses that require background checks with the arrival of sharing economy services such ride hailing companies, food delivery and handymen services opens up newer market segment which require background checks”.
Sushanto Mitra, CEO, Lead Angels, said, “We believe HelloVerify has all the makings of a future unicorn. The background screening space is likely to grow exponentially with the data ecosystem developing further and enhanced corporate governance and security norms. And they have a disruptive product that is already making giant strides”.
The funds raised will be utilized for accelerating and expanding HelloVerify’s technology ecosystem by integrating and enhancing the role of artificial intelligence in its background check technology. This will lead to improved turnaround times, better data insights and enhanced quality&accuracy for clients.
Hello Verify plans to expand across India with particular focus on the South Indian market. It is also keen on increasing its penetration into the white and blue collar segments. As per industry reports Employment Screening Services Market is expected to reach US$4.9 billion globally by 2023 offering huge growth potential for background screening companies.