Truecaller Announces $60 Million in New Funding from Atomico, Kleiner Perkins Caufield & Byers and Sequoia Capital
With over 85 million users, Truecaller enhances veteran leadership with John Doerr, Niklas Zennström and Jerry Murdock joining the company’s board
Truecaller, which helps people take the right call, today announced that an investor group led by Atomico, Kleiner Perkins Caufield & Byers (KPCB), Sequoia Capital, Jerry Murdock (co-founder of Insight Venture Partners) and Stefan Lennhammer has invested $60 million in the company. This Series C round of financing will be used to fuel product development, hire new talent and expand the company’s global footprint.
The company also announced that John Doerr, partner at KPCB, Mattias Ljungman, managing partner at Atomico, and investor Jerry Murdock will be joining Truecaller’s board to further help shape the strategic direction of the company. Atomico founder and Skype co-founder Niklas Zennström will also join the board as a special adviser.
Truecaller is a Stockholm-based firm with more than 85 million users who utilize the service to search contact numbers, block spam and identify incoming calls to their mobile phones. In today’s world of connected devices and social networks, Truecaller delivers an experience that goes beyond the limitations of today’s phonebook apps so that people always have access to the right information, people and businesses they need. Over the past year, the company has also forged key partnerships with Yelp and Twitter to extend even greater value of the service to its users. This includes being able to verify information on businesses that call your phone, as well as Tweet back to missed calls.
“Truecaller is solving a major pain point among smartphone owners who are looking for a better way to manage their contacts and always have the right information they need to stay connected,” said Niklas Zennström of Atomico. “It is great to see a team from Sweden that’s re-thinking how we communicate and scaling their technology globally. We look forward to working with the team to help them reach the next 100 million users,” continued Zennström.
With over 200,000 new users joining daily, the company is seeing a tremendous growth in emerging markets like India, the Middle East, Brazil and Africa. In addition to its growing user base, Truecaller has seen a significant increase in name and number searches on its platform. It has nearly doubled from about 800 million searches a month just six months ago to more than 1.5 billion searches a month today.
“In a time in which all of us live on our mobile devices, Truecaller is building a more powerful and intelligent mobile phone experience for people around the world,” said KPCB’s John Doerr. “With 200,000 new users joining the service every day, and with dynamic growth in emerging markets from India to the Middle East to Africa to Brazil, Truecaller is transforming how we manage our information, and I am thrilled to join the team.”
“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. ”We are committed to perfecting the Truecaller experience, and believe that intelligent and predictive services will be the future of the contact management experience.”
Today’s Series C funding round follows an $18.8 million dollar investment in the company led by Sequoia Capital in February of this year, bringing the total investment in the company to more than $80 million. To take part in Truecaller’s growing community, you can download the free app on popular platforms including iOS, Android, Windows Phone, BlackBerry and Nokia feature phones.
Truecaller is a Swedish company specializing in search technology and contact management. Truecaller has more than 85 million users worldwide and is available on all Internet-enabled devices and on the web. Headquartered in Stockholm, Truecaller was founded in 2009 by Alan Mamedi and Nami Zarringhalam. Investors include Sequoia Capital, Atomico and Kleiner Perkins Caufield & Byers. For more information visit www.truecaller.com.
Atomico is a growth stage international investment firm, focused on helping the world’s most disruptive technology companies scale and reach their full potential globally. Founded by Niklas Zennström, the co-founder of Skype, Atomico has become the investor of choice for ambitious entrepreneurs due to its experience of building global companies, unique international network, and ability to help companies operationally, with teams in London, Beijing, São Paulo, Istanbul, Tokyo and Seoul. For more information, please visit http://atomico.com.
About Kleiner Perkins Caufield & Byers (KPCB):
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. For more information, visit https://www.kpcb.com and follow us @kpcb.
About Sequoia Capital:
Sequoia Capital in India currently manages funds capitalized at close to USD 2 billion and invests across seed, venture, and growth stage opportunities. It takes a long-term view on investments and plays the role of an active, value-added partner to entrepreneurs, business families and management teams. Over the past 8 years, Sequoia Capital has invested in more than 75 companies in India including Capillary Technologies, Druva Software, Justdial, Micromax, Mu Sigma, Pine Labs, Practo, Prizm Payments, Quick Heal, Truecaller and Zomato. Sequoia Capital operates out of offices in Bangalore, Mumbai, and New Delhi.
Globally, Sequoia Capital has an unparalleled track record of partnering with entrepreneurs to create global market leaders. Sequoia Capital has been an early investor in companies such as Apple, Cisco, Dropbox, Google, LinkedIn, Oracle, Yahoo, YouTube and Zappos. Sequoia Capital maintains dedicated teams in USA, China, India and Israel.
For more information, please visit: www.sequoiacap.com
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