Background Verification Firm TheRollNumber Raises Seed Funding
TheRollNumber, a background verification startup, has raised seed funding of $165,000 (Rs 1.36 crore) led by Inflection Point Ventures.
Several angel investors, including Munish Bhatia (Rudraksh Ventures), Mona Singh and Neeti Malhotra (India Accelerator), among others, also participated in the funding round.
As per the startup, the freshly raised funds will be used for scaling up its product and technology stack as well as hiring.
TheRollNumber | Blockchain-based Background Verification System
Founded by Sai Raghavendra Sharma in 2020, TheRollNumber is a blockchain-based background verification system for companies, universities and individuals to protect themselves from fake and fraudulent certificates and reduce the effort of HR and the onboarding team.
The Hyderabad-based startup offers backend-as-a-service (BaaS) and software-as-a-service (SaaS) for entities to verify, attest and issue blockchain-based credentials. It claims to run background checks in about 15 minutes.
As per the founder, TheRollNumber aims to provide a credential management system to individuals and is building a system that enables digitization and verification in 15 minutes.
Commenting on the development, Vikram Ramasubramanian, partner at Inflection Point Ventures, said,
“Centralization of sensitive information led us to invest in TheRollNumber. The time-saving and cost-effective approach of this company has determined us to back their vision.”
Inflection Point Ventures And Its Investments
Founded by Ankur Mittal, Vinay Bansal and Mitesh Shah in 2018, Inflection Point Ventures is an angel investing platform based out of Gurugram. Since its inception, the angel investing platform has invested over Rs 550 crore across 140 deals.
Last year, in March, the firm launched its CAT-II Alternative Investment Fund Physis Capital, a $50 million VC fund to invest in pre-Series A to Series B rounds in the startups.
Last month, IPV participated in the $2 million seed funding round of the house of brands player SuperCluster Pi. The firm has also invested in several startups, including BankSathi, a Bengaluru-based fintech startup; AI-backed legaltech startup Amikus AI; and Growfitter, a health and fitness discovery platform.
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