Total amount raised
$270.2 Millions
Latest funding date
October, 2018
Location
Truecaller has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform specializes in caller identification and spam blocking, offering users a reliable way to manage their calls.
Keep reading to delve into the details of Truecaller's funding journey and the investors who believe in its potential.
What Is Truecaller?
Truecaller, founded in 2009 by Alan Mamedi and Nami Zarringhalam, is headquartered in Stockholm, Sweden. The company specializes in caller identification and spam blocking, helping users manage their communication more effectively.
With a team of 51-100 employees, Truecaller offers a range of services including Caller ID, Spam Blocking, and SMS fraud protection. The app is available on both Android and iOS platforms, boasting high user ratings.
Truecaller aims to create a safer communication environment by identifying unknown callers and blocking unwanted calls and messages. The platform continues to innovate, ensuring users can trust their mobile interactions.
How Much Funding Has Truecaller Raised?
- Series A
- Amount Raised: $1.3M
- Date: September 2012
- Lead Investors: OpenOcean
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance the app's features.
- Series B
- Amount Raised: $18.8M
- Date: February 2014
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Focused on growing Truecaller's user base in the U.S.
- Series C
- Amount Raised: $60M
- Date: October 2014
- Lead Investors: Atomico, Kleiner Perkins, Peak XV Partners
- Valuation at Round: $300M
- Motivation Behind the Round: To support the continued fast growth of its mobile apps and expand its operations and user base further.
- Series D
- Amount Raised: €10M
- Date: December 2016
- Lead Investors: Zenith Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the app's capabilities and expand market reach.
- Venture Round
- Amount Raised: SEK20M
- Date: March 2017
- Lead Investors: Zenith Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the app's features and improve user experience.
- Venture Round
- Amount Raised: SEK600.6K
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing development and innovation.
- Venture Round
- Amount Raised: SEK50M
- Date: October 2018
- Lead Investors: Zenith Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance app functionalities.
- Secondary Market
- Amount Raised: Not specified
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $80.7M
Current Valuation: $300M
Key Investors
- Zenith Venture Capital
- Details: Zenith Venture Capital is a prominent venture capital firm known for its strategic investments in technology startups. They have been a key investor in Truecaller, participating in multiple funding rounds.
- Investment Focus Areas: Technology startups, early-stage companies, growth-stage companies
- Notable Investments: Not publicly disclosed
- Atomico
- Details: Atomico is a venture capital firm founded by Niklas Zennström, co-founder of Skype. The firm focuses on technology companies with global potential.
- Investment Focus Areas: Technology, global impact, innovative startups
- Notable Investments: Skype, Supercell, Klarna
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned Silicon Valley venture capital firm. They have a long history of successful investments in high-growth industries.
- Investment Focus Areas: Technology, life sciences, high-growth industries
- Notable Investments: Google, Amazon, Twitter, Uber
- Peak XV Partners
- Details: Peak XV Partners is a venture capital firm that has been instrumental in Truecaller's growth. They focus on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, innovative startups
- Notable Investments: Not publicly disclosed
- OpenOcean
- Details: OpenOcean is a venture capital firm specializing in data-intensive software companies. They have been a significant investor in Truecaller since its early stages.
- Investment Focus Areas: Data-intensive software, technology startups, innovative solutions
- Notable Investments: MariaDB, Nosto, Truecaller
What's Next for Truecaller?
Truecaller is poised to capitalize on the vast opportunities in the U.S. market, where the demand for caller identification and spam blocking services is substantial. With a user base already at 85 million, the potential for growth is immense, especially with plans to integrate with platforms like Twitter and enhance features for Android users.
Future fundraising seems promising given the company's rapid expansion and the interest from high-profile investors. This financial backing could support further development and potential acquisitions, bolstering Truecaller's market position. However, challenges such as high operational costs and competition from other apps remain significant hurdles. Ensuring user privacy and data security will also be critical as the company scales.
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