$60 Million Raised by Mobile Phone Directory and Caller ID App Truecaller
Stockholm-based startup, Truecaller, has raised $60 million from the West Coast venture giants Kleiner Perkins Caufield & Byers and Sequoia Capital, as well as from the venture fund Atomico started by Niklas Zennström, the co-founder of Skype. Truecaller allows anyone to search for people’s phone numbers anywhere in the world through an online database and it also lets people to identify incoming calls.
Truecaller has over 85 million users worldwide. Alan Mamedi, the co-founder of the company, said that they are a search engine for people and the goal is to connect with anyone wherever they are in the world.
After downloading the Truecaller app, users have access to a searchable database that allows people to find other phone numbers as long as individuals give their consent.
The service includes publicly available phone numbers of service companies whose information comes up on people’s smartphones when companies call for a delivery or pick-up. Truecaller has also reached deals with companies such as the online user-review site, Yelp, to offer people additional information about local companies.
The Truecaller app also tells users when an incoming call may be from a telemarketer or other unwanted source.
Mr. Mamedi says that to avoid concerns about privacy, users retain control over who can view their details and whether they can be found through the service. He said that they take users’ information very seriously and they have no intention to sell people’s information to third parties.
Truecaller, which has around 60 employees, has customers all around the world, with about half of its 85 million users based in India. The Truecaller has several million American users and plans to use the new investment to boost its presence in the United States and other markets. Over the last six years Truecaller has raised $80 million.
According to Truecaller, users make 1.5 billion searches each month for phone numbers in its database and approximately 200,000 people sign up for its service each day.
A partner at Kleiner Perkins, John Doerr, who invested in the likes of Twitter Google and Amazon, will also join Truecaller’s board as part of the new fund-raising.