Fueled by regulatory requirements and digital transformation, the demand for identity verification and digital credentialing is set to rise significantly, according to Piyush Peshwani, co-founder and CEO of background verification platform OnGrid.

Since its inception in 2016 by IIT Bombay graduates Piyush Peshwani and Vineet Bansal, OnGrid has processed over 500 million verifications for more than 3,000 clients. The company claims to be India’s fastest and most comprehensive background verification service, catering to employees, contractors, and business partners.

“In 2024-25, we estimate the growth rate to exceed 50% compared to 2023-24, completing over 60 million verification transactions—the highest ever,” Peshwani told PTI.

OnGrid has been witnessing consistent year-on-year growth in revenue, clientele, and the number of verifications processed. With increasing regulatory scrutiny and a greater reliance on digital credentials, the company expects an even sharper demand for seamless and secure verification solutions.