Description
Overview about Helloverify:
Helloverify is a leading automated background-screening platform for India. Helloverify’s automated API platform leverages robotic process automation, and machine learning to streamline workflows and improve delivery of services, enabling them to be faster, affordable and provide more accurate checks. They are a Y-Combinator funded company. HelloVerify currently does an average of $450k of monthly orders from 81 paying customers. Orders are currently growing at ~14% M-o-M and is up 1.6 times Y-o-Y. Their order book has grown 84% from $300K/April to $550K in September. They charge $23 per report on average that contains 4/5 checks with 40% gross margins. The FY2018 achieved revenue is USD 3Mn and they are in line to achieve FY 2019 projections of USD 5.6Mn
Helloverify was presented at Lead Angels Delhi Chapter and has received considerable interest from our Investor Members. The Company is based out of Noida.
Helloverify ask from Lead Angels is USD 150k (can be increased based on commitments).
*Instrument of Investment – Y-Combinator SAFE (Simple Agreement for Future Equity) note at a $30Mn Cap
List of other participating Investors:
The company has already raised $1.2Mn in the current seed round from Y-Combinator, Data Collective, Venture Souq, Global Markets Fund and Oyster VC.
The minimum commitment towards the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be proportionate.
