Truecaller Secures USD 60M in VC Funding


Sweden’s Truecaller, an online collaborative phone directory has secured USD 60 million Series C round at a valuation of USD 300 million led by Atomico, Kleiner Perkins Caufield & Byers (KPCB) and Sequoia Capital. The raised funds will be used to hiring new talents, develop products and for further expansion in new markets.

Post Investment, Atomico founder and Skype co-founder, Niklas Zennström will join Truecaller board as special advisor. “We started by helping people manage their contact information and block spam calls, but this is just the beginning of what we can do for our users,” said Truecaller co-founder and CEO Alan Mamedi.

See Also: Millions of phonebook records stolen as Syrian Electronic Army hacks Truecaller

Recently, the company had received USD 18.8 million in Series B, USD 1.3 million in Series A and an undisclosed amount in an unknown round. Including this round, the firm had secured a total funding of USD 80.1 million from 6 investors.

As per a Reuters report, around 85 million active users use Truecaller’s services to identify callers before answering. It also offers a subscription service to users of USD 1.99 per month to check who has viewed their profile and sending contact requests to people outside their network.

Last year, Truecaller had also announced a partnership with Twitter on its blogstated that the partnership will begin in India, allowing Indian users to be able to see if a number is connected with a Twitter account, and have the ability to tweet or follow a person directly through the Truecaller app.