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TrueCaller Secures $18.8 Million In Funding From Sequoia And Others
Internet based mobile caller identification platform TrueCaller has confirmed successful closure of Series B Funding round totaling to US$ 18.8 Million.
Sweden Based TrueCaller which collates Caller Info and then presents the same at the time when an unknown or unsaved caller calls, has admitted to raising US$ 18.8 Million in its Second Institutional Funding round. This round was led by Indian arm of Venture Capital (VC) firm Sequoia Capital. Existing investor Open Ocean, TrueCaller Chairman Stefan Lennhammer, and a private investor also participated in the round. As part of the deal Shailesh Lakhani of Sequoia has joined the Truecaller board.
Though the news of the funding was first heard in the first week of January itself, the company categorically denied the event. When asked about the same, TrueCaller’s Marketing Manager, Kim Fai Kok, said, “I’m surprised to read this. This is not true.” Hence this news comes a surprise that puts a solid question of credibility upon the Marketing Manager.
In another revelation, TrueCaller has tied–up with Crowd–Sourced review company Yelp. TrueCaller will make use of Yelp’s API to integrate the same within the soon to be released, updated version of TrueCaller App for Android as well as iOS.
The strategic tie–up with Yelp will allow TrueCaller to offer a new facility that will let users identify reviewed businesses globally. TrueCaller users will now be able to identify local, national, and international businesses, and also view their Yelp rating. It is certainly a very interesting and potent mix of TrueCaller’s search engine to find people and identify numbers, and Yelp’s crowd–sourced business ratings.
TrueCaller’s adoption is quite healthy. With over 45 Million registered and active users, TrueCaller has even managed to find success in India with a 20 Million user base. Now that it has extended the applicability of its app, will its adoption soar?
Source| GigaOM
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Source: http://www.watblog.com/2014/02/07/truecaller-secures-18-8-million-in-funding-from-sequoia-and-others/
