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Business News/ Companies / Sequoia India arm invests in Truecaller
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Sequoia India arm invests in Truecaller

The series B round was led by Sequoia Capital, which invested $18.8 million, along with existing investors

Sequoia Capital has previously invested in companies like Apple Inc., Dropbox, Google Inc., LinkedIn and YouTube. Premium
Sequoia Capital has previously invested in companies like Apple Inc., Dropbox, Google Inc., LinkedIn and YouTube.

Bangalore: Truecaller, a mobile phone application that helps users block spammers by identifying callers, has raised a series B round of $18.8 million led by the India arm of Sequoia Capital, Sequoia Capital India.

“We are excited to help support the company’s growing user community," said Shailesh Lakhani, principal, Sequoia Capital India, who is on the board of Truecaller.

Truecaller was founded in 2009 by Nami Zarringhalam and Alan Mamedi, two graduates from the Royal Institute of Technology, Sweden, with its headquarters in Stockholm. The mobile application runs on a crowdsourced telephone directory model and helps users know who the caller is, and if the number has been reported as a spam by other users. The company, with more than 45 million users across the globe, has helped its users block more than 1 billion calls in the last one year.

The company raised its previous rounds of funding from Open Ocean, Stefan Lennhammer, chairman of Truecaller, and other independent angels in the Silicon Valley. The series B round was led by Sequoia Capital, which invested $18.8 million ( 117.5 crore), along with existing investors.

“With Sequoia, we have a partner who truly shares our vision, and together we look forward to continued innovation and global expansion by creating a helpful service that the entire world can use confidently," said Mamedi, CEO and co-founder, Truecaller.

Sequoia Capital has previously invested in companies like Apple Inc., Dropbox, Google Inc., LinkedIn and YouTube.

Along with news of the investment, the company also announced its integration with Yelp, an American online business review site, which can help Truecaller by identifying numbers of the local listings on the website.

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Published: 07 Feb 2014, 03:36 PM IST
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