Background verification startup TheRollNumber on Thursday said it has secured seed funding of $165,000 (Rs 1.36 crore) led by Inflection Point Ventures.
The round also saw participation from a clutch of angel investors including Munish Bhatia (Rudraksh Ventures), Mona Singh and Neeti Malhotra (India Accelerator) among others.
Founded by Sai Raghavendra Sharma in 2020, TheRollNumber 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.
“TheRollNumber aims to provide a credential management system to individuals and is building a system that enables digitization and verification in 15 minutes,” said Sharma.
The Hyderabad-based startup will deploy the fresh funds for scaling up its product and technology stack as well as hiring.
Meanwhile, Inflection Point Ventures, founded by Ankur Mittal, Vinay Bansal and Mitesh Shah in 2018, is an angel investing platform based out of Gurugram. Since its inception, IPV has so far invested over Rs 550 crore across 140 deals. Last year, the firm announced the launch of Physis Capital its $50 million VC fund to invest in pre-Series A to Series B rounds in the startups.
“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,” said Vikram Ramasubramanian, partner at Inflection Point Ventures.
Last month, Inflection Point participated in the $2 million seed funding round of the house of brands player SuperCluster Pi.
The firm had also led Rs 2 crore pre-Series A funding round of the Direct-to-consumer kids’ furniture brand Boingg.
