 "Truecaller raises $18.8 million in Series B funding")
Verified mobile phone community, Truecaller today said that it has received an investment of $18.8 million (around Rs 117.2 crore) from a group of investors led by Sequoia Capital in a Series B round of funding. Existing investors such as Open Ocean, Truecaller Chairman Stefan Lennhammer and an unnamed private investors were part of this investment.
Truecaller application, which helps identify unknown phone numbers that call on a mobile phone, currently has over 45 million users. Truecaller helps in blocking spam calls, and the company claims it has helped block more than 1 billion unwanted calls in less than a year.
“As part of the company’s ongoing commitment to expand its list of product features, the company is also announcing an integration of Yelp API (application programming interface) data as part of its new product launch on Android and iOS, which allows users to identify millions of reviewed businesses globally,” the Stockholm-based company said in a release. “The new Truecaller release incorporates new social features to make it even easier to update contacts and get in touch with people you may know.”
Yelp is a US-based company that operates an ‘online urban guide’ and business review site. With the integration of Yelp, users can identify local, national and international businesses and also consult Yelp ratings.
“Truecaller is among the most engaging applications in many high growth smartphone markets, as it helps make users more efficient in avoiding spam calls and know who is calling them. We are excited to help support the company’s growing user community,” said Shailesh Lakhani of Sequoia Capital, who has joined the board of Truecaller.