HR analytics services provider, IDfy.com, specializing in background verification across a range of scenarios, recently held a fresh round of funding, where both new and existing investors participated in raising approximately USD $3 million.
New Enterprise Associates (NEA), a venture capital firm based in the US and part of the existing portfolio, once again supported IDfy.com. New participants included Dream Incubator from Tokyo and NB Ventures – an arm of UAE-based investor Neelesh Bhatnagar.
The company was founded by Jawa Hariharan and Hatim Baheranwala in 2011, part of Baldor Technologies Pvt Ltd. IDfy.com covers the entire gamut of screening and validation, like background checks, customer research & insights, and 360-degree HR intelligence to smooth out recruitment.
IDfy.com covers mission-critical aspects of identity verification such as PAN card checks (a version of US social security numbers), work ex-authentication, educational certificates, employer reference, as well as basics like the permanent address.
The breadth of the application is easy to imagine.
So it’s no surprise that IDfy.com has found applications in segments as diverse as human resources, financial risk management, and the emerging ‘sharing economy’.
Nearly 500,000 profiles have been scanned by IDfy.com with about 40,000 fraudulent cases identified. The company is present in six major commercial hubs and reports an impressive month-on-month growth rate at 30%.
The above article was sourced in part from hrtechnologist.com and can be read in its original form here.