TransCrypts
TransCrypts is a blockchain-based SaaS platform that lets consumers own and instantly share verified employment, income, and background-check credentials with employers, lenders, and verifiers, serving 450+ enterprises and 4M+ users across the US and Canada.
- Company typePrivate
- Founded2020
- HeadquartersNewark, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What TransCrypts does
TransCrypts is a blockchain-based SaaS company founded in 2020 by Zain Zaidi and Ali Zaheer at the University of Toronto Scarborough. The platform enables consumers to own, store, and instantly share verified employment, income, and background-check credentials with employers, lenders, landlords, and other verifiers, using end-to-end encryption, on-chain hashes, and user-held private keys combined with zero-knowledge proofs so that even TransCrypts cannot view the underlying data. The product portfolio is structured around a core Employment & Income Verification API (sub-$2 per verification, real-time) and an AI-powered Background Check module, with modular solutions tiered by customer size (Startup, SMB, Mid-Market, Enterprise) and specialized industry verticals including Healthcare, Real Estate, Professional Services, Retail, Manufacturing, and Construction; experimental offerings extend into self-sovereign healthcare records, defense credentials, and supply-chain anti-counterfeit tracking.
The company operates a hybrid go-to-market combining self-serve consumer onboarding (free for individuals to receive and share credentials), API-first distribution through 200+ HRIS and ATS integrations (Workday, ADP, BambooHR, Gusto, SAP SuccessFactors, Greenhouse, Lever, iCIMS, SmartRecruiters), and direct enterprise field sales targeting Fortune 100 and Fortune 500 customers. Revenue is generated through usage-based per-verification pricing, recurring enterprise subscriptions with volume discounts, and tiered background-check subscriptions; the company has stated it has achieved profitability by end of 2022 and reports ~$5M in annual revenue as of September 2025. Customer scale includes 4M+ users, 450+ enterprise customers, 3M+ verifications processed, and humanitarian deployments in 9 countries through a partnership with Doctors Without Borders. The company is dual-headquartered in San Francisco and Toronto, holds HIPAA, FCRA, SOC 2 Type II, ISO 27001, CCPA, GDPR, and FERPA certifications, and raised a $15M USD seed round led by Pantera Capital in October 2025 at a post-money valuation above $80M CAD.
TransCrypts firmographics
Firmographics- Name
- TransCrypts
- Legal name
- Transcrypt Solutions, Inc.
- Website
- https://transcrypts.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- TransCrypts is a blockchain-based SaaS platform that lets consumers own and instantly share verified employment, income, and background-check credentials with employers, lenders, and verifiers, serving 450+ enterprises and 4M+ users across the US and Canada.
- Ownership category
- akta.pro rank
TransCrypts industry classification
Industry- Product category
- Employment Verification Software
- NAICS
- Investigation and Personal Background Check Services (561611)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320)
- akta.pro primary industry
- Identity Verification (ID, SSN Trace, KYC-lite) (BPACALAD)
- akta.pro secondary industries
- Decentralized Identity (DID) & Verifiable Credentials (BPAMAEAJ), Identity Verification & Digital ID (IDV, eIDAS, biometrics) (FSAGAFAA), Transcript, Score Reporting & Verification/Credential Wallet Platforms (EDAFADAO)
Keywords
Where TransCrypts is headquartered
LocationHeadquarters
- HQ city
- Newark
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
TransCrypts business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Employment & Income Verification API: Per-verification pricing model for verifiers. Real-time employment and income checks at sub $2 per verification. Free to consumers to receive and verify credentials.
- Background Check Services: AI-powered background checks with 24-hour FCRA-compliant turnaround. Pricing varies by check type and volume, with volume discounts for high-throughput enterprise customers.
- Enterprise Platform Subscriptions: Enterprise customers including Fortune 100/500 companies subscribe for comprehensive verification solutions with volume pricing, dedicated support, and custom reporting.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free Consumer Plan - Credential storage and sharing for individuals |
| Usage-based | Pay-as-you-go | Sub $2 Real-Time Verification - Per verification pricing for employers and verifiers |
| Subscription | Annual | Enterprise - Volume pricing with dedicated support and custom integrations |
| Unit Pricing | Pay-as-you-go | Startup/New Business - Pay-per-use with no minimums |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
TransCrypts product offering
Product offeringCore offering
TransCrypts provides a blockchain-based digital identity verification platform that enables consumers to own, store, and instantly share verified employment and income credentials, while offering employers, lenders, landlords, and verifiers real-time employment/income verification and AI-powered background checks via a sub-$2 per-verification API. The platform extends into self-sovereign medical records (FHIR-compliant), defense credential verification, and supply chain counterfeit prevention through zero-knowledge proof and end-to-end encryption architecture.
Product overview
TransCrypts is a blockchain-based digital identity verification platform structured as a core platform plus modular solutions. The flagship Employment & Income Verification product serves as the foundation, enabling consumers to own and share verified credentials instantly. This core platform integrates with Background Check Solution and the new AI Background Check module for comprehensive screening. The product portfolio includes industry-specific solutions (Healthcare, Real Estate, Professional Services, Retail, Manufacturing, Construction) and business-size tiers (Small Business, Mid-Size, Enterprise, Startups). Experimental solutions extend into Healthcare Solutions (self-sovereign medical records), Defense Solutions (military credentials), and Supply Chain Solutions (counterfeit prevention). The Verifier Portal enables instant credential verification at sub-$2 cost. All products leverage blockchain technology with zero-knowledge proofs for secure, privacy-preserving verification.
Differentiator
Problem solved
Functional benefit
Products and services
- Employment & Income Verification Core blockchain-based platform enabling consumers to own verified employment and income credentials and share them instantly with employers, lenders, landlords, and verifiers. Verification is processed in under 2 seconds. Free for consumers to receive and verify credentials; sub-$2 per verification for verifiers and employers.
- Background Check Solution Comprehensive all-in-one suite supporting one-click background checks and automated employment and income verification for current, former, and prospective employees. Blockchain-based tamper-proof reports that individuals can own and share. AI-powered 24-hour FCRA-compliant turnaround with volume discounts for high-throughput enterprise customers.
- Healthcare Solutions Self-sovereign medical records enabling individuals to own verified records of their medical history through blockchain-based digital credentials. FHIR-compliant records designed to work across most medical record providers. Includes refugee medical record preservation, emergency room access, provider transitions, insurance verification, and prescription history.
- Defense Solutions Blockchain-based military credential verification for personnel credentials, equipment verification, mission-critical identity verification, and secure communication. Includes self-sovereign identity and zero-knowledge authentication for defense personnel.
- Supply Chain Solutions Blockchain-enabled digital thread preventing counterfeit parts in defense manufacturing and pharmaceuticals through smart contract systems providing full visibility from materials sourcing to final installation.
Quantifiable outcome
- 3M+ verifications processed for teams worldwide
- +7 more outcomes
Companies that use TransCrypts
Customer profileNamed customers5 records
Segments6 records
Ideal customer profiles4 records
TransCrypts technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability5 records
Feature5 records
TransCrypts partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, flagship and minor.
- Velocity Network FoundationcoreJoined as a member to advance secure, verifiable, and privacy-preserving records across global education and employment ecosystems. Partnership combines TransCrypts' expertise in employment/income verification with VNF's decentralized trust framework to reduce fraud, accelerate cross-border credential verification, and give individuals direct control over their data.
- Lehigh UniversitycoreCollaborated to develop FHIR-compliant blockchain medical records for US market. Records designed to work seamlessly across most medical record providers ensuring broad interoperability.
- Doctors Without Borders (Médecins Sans Frontières)flagshipLaunched healthcare verification solution in 2022 through TransCrypts Foundation, partnering to help refugees in 9 countries maintain verified medical records. Demonstrated real-world impact of self-sovereign healthcare credentials.
- WorkdaycoreNative integration with Workday HRIS platform enabling seamless employment verification for Workday customers.
- ADPcorePre-built integration with ADP payroll systems enabling automated employment and income verification for ADP customers.
- GustocoreIntegration partnership with Gusto HR/payroll platform. Gusto co-founder Tomer London also participated as angel investor in seed round.
- SAP SuccessFactorscoreNative integration with SAP SuccessFactors for enterprise HR verification workflows.
- BambooHRcorePre-built integration with BambooHR enabling automated employee verification for SMB customers.
- SHRMminorStrategic partnership with Society for Human Resource Management for HR industry standards and best practices alignment.
Scale indicators10 records
Recent moves8 records
Expansion highlights6 records
TransCrypts competitors and assessment
Company assessmentDirect peers
- Checkr: Largest US background-check platform serving enterprises and SMBs. Directly competes with TransCrypts on background screening and HRIS-integrated employment verification, with comparable APIs and similar enterprise buyer profiles.
- Sterling: Established background-screening and identity-verification provider serving Fortune 500 employers. Competes head-to-head with TransCrypts in enterprise HR verification and FCRA-compliant background checks.
- Truework: Employment and income verification API serving lenders, employers, and verifiers. Closely comparable product offering, target customer base, and business model to TransCrypts' core employment/income verification product.
- HireRight: Global provider of background screening, drug testing, and employment verification. Directly competes for the same Fortune 100/500 HR buyers with overlapping HRIS integration coverage.
- Certn: Canadian-based background-check and identity-verification platform with API-first delivery. Closely comparable in geographic footprint (Canada + US), SMB and enterprise targeting, and product scope.
- Persona: Identity verification platform providing KYC, document verification, and biometric authentication. Overlaps with TransCrypts' zero-knowledge-proof identity capabilities and enterprise compliance positioning.
- Veremark: Background-screening platform offering blockchain-anchored credential verification. Direct competitor in the verifiable, tamper-proof background check category TransCrypts is targeting.
Broad incumbents
- Plaid: Major fintech infrastructure provider with broad income and identity data connectivity. Competes indirectly on income verification while serving a much wider fintech buyer base than TransCrypts.
- ID.me: Digital identity network with strong government and healthcare verification presence. Comparable on identity verification and compliance positioning, though much larger scale and broader scope.
Emerging players
- Civic: Blockchain-based decentralized identity platform focused on reusable KYC and on-chain identity. Compares to TransCrypts on the decentralized identity architecture and DID approach, though with a narrower HR/employment use case.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
TransCrypts social profiles
Digital presenceTransCrypts compliance and trust
Trust signalCompliance7 records
TransCrypts financial estimates
Financial estimateRevenue estimate
Valuation estimate
TransCrypts leadership team
Management profileNumber of profiles
Profiles2 records
TransCrypts funding detail
Funding detailFunding overview
Funding rounds9 records
Investors29 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TransCrypts M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TransCrypts
What does TransCrypts do?
TransCrypts provides a blockchain-based digital identity verification platform that enables consumers to own, store, and instantly share verified employment and income credentials, while offering employers, lenders, landlords, and verifiers real-time employment/income verification and AI-powered background checks via a sub-$2 per-verification API. The platform extends into self-sovereign medical records (FHIR-compliant), defense credential verification, and supply chain counterfeit prevention through zero-knowledge proof and end-to-end encryption architecture.
Is TransCrypts a public or private company?
TransCrypts is a private company. It is classified as venture growth investor backed and is currently operating.
When was TransCrypts founded?
TransCrypts was founded in 2020. It employs 11 to 50 people.
Where is TransCrypts based?
TransCrypts is headquartered in Newark, United States, in the North America region.
How does TransCrypts make money?
Three revenue lines are on record. Employment & Income Verification API is the primary driver. The others are background Check Services and enterprise Platform Subscriptions.
Who are TransCrypts's main competitors?
Direct peers on record are Checkr, Sterling, Truework, HireRight, Certn, Persona and Veremark. Broad incumbents are Plaid and ID.me. Civic is listed as an emerging player.
Does TransCrypts have an API?
Yes. TransCrypts offers RESTful APIs for custom integrations and workflows. The platform provides developer-friendly RESTful APIs with comprehensive documentation and sandbox environments. Pre-built integrations with 200+ HR and ATS platforms are available. The API enables verification requests, background check submissions, and credential management. Developer documentation is at transcrypts.com/verifiers/employment-verification.
What industry is TransCrypts in?
TransCrypts's product category is Employment Verification Software. Its primary akta.pro industry code is BPACALAD, Identity Verification (ID, SSN Trace, KYC-lite), with a secondary code of BPAMAEAJ, Decentralized Identity (DID) & Verifiable Credentials. Its NAICS code is 561611 and its SIC code is 7320.