Why We Invested in OnGrid

A platform for comprehensive background verifications and E-KYC across various industries.

What is Ongrid ?

OnGrid operates a SaaS product (OnGrid) as well as provides APIs (Gridlines) for comprehensive background verifications (BGV) and E-KYC, offering services to a wide range of stakeholders including employees, contractors, and loan applicants, across industries such as education, staffing, logistics, and finance. The company also provides a free employment credentials platform under the brand “E-Lockr”

Why this industry?

The global employment screening market is projected to grow from $5.7 billion in 2023 to $11 billion by 2032, at a CAGR of 7.3% [source]. With India being expected to contribute approximately one-fourth of the world's incremental workforce over the next decade, the need for reliable BGV solutions is growing. OnGrid is poised to capitalize on this trend by leveraging its robust presence in the Indian market and high-quality product delivery to drive global expansion.

Why we invested?

OnGrid has effectively expanded its product offerings and geographic reach while maintaining a solid customer retention rate through excellent service and strategic focus, and has disrupted the market by breaking the previous pricing monopoly, all while maintaining solid financial performance. 

Having followed them and their journey from inception, OnGrid’s founding team made the decision a non-brainer when we got the chance,as they not only have a solid background in industry including experience with Aadhaar (UIDAI), but are also very resilient while having a razor sharp focus on profitability.