Helloverify Raises Funding from Investors Lead Angels, Y-Combinator, Data Collective & Venture Souq

By SiliconIndia   |   Wednesday, March 13, 2019
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Helloverify, an API background screening platform which grew 100 percent y-o-y in the last six months, raised an undisclosed amount of funding from Lead Angels Network along with Y-combinator, Data Collective & Venture Souq. The venture is now working with over 105 of India’s largest and biggest corporates and startup unicorns. The funding amount 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.

Speaking about the funding, Varun Mirchandani, Founder, Helloverify, says, “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”.

As per industry reports, Employment Screening Services Market is expected to reach $4.9 billion globally by 2023 offering huge growth potential for background screening companies. The funding will improve turnaround times, better data insights and enhanced quality & accuracy for clients.

“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”, says, Sushanto Mitra, CEO, Lead Angels.

Founded in 2012, HelloVerify provides a complaint & robust background screening process to help large enterprises, small businesses, startups and individuals to build successful relationships with their applicants based on trust and safety. It has its presence with over 300+ employees and sales presence in New Delhi, Bangalore, Hyderabad, Pune and Mumbai. Helloverify has conducted over 5 million checks so far and serves over 100 clients from various corporate domains.

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