Truecaller, a start-up based in Stockholm, has received $60 Million in Series C funding from Atomico, Kleiner Perkins Caufield & Byers (KPCB), and Sequoia Capital.
Truecaller, which has about 60 employees, has over 85 million users worldwide. About half of its users are based in India. The company has several million American users and plans to use the new investment to recruit talented team members and to reinforce its presence in the United States and other markets.
The five year old company claims that more than 200,000 new users are joining every day, with especially high growth in emerging markets like India, the Middle East, Brazil, and Africa. And search queries on the platform are also up, doubling from around 800 million six months ago to 1.5 billion monthly searches.
Truecaller app helps smart-phone users to identify who is calling, even if it’s from beyond users phonebook. It gives users immediate access to an expansive list of top spammers, allowing them to quickly block calls from all numbers reported as spam. Users can easily keep their contact list updated with friends profile pictures and status updates by choosing to source information from popular sites like Facebook, LinkedIn, and Twitter.
“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 Mamed, as reported on company’s website.
In addition, Truecaller also announced that KPCB’s John Doerr, Atomico’s Mattias Ljungman, and investor Jerry Murdock will join the company’s board. Atomico founder Niklas Zennstrom will also serve as a special adviser on the board.
In February, Truecaller raised $18.8 million Series B funding from Sequoia Capital.