Total amount raised
$270.2 Million
Latest funding date
10/1/2018
Location
Truecaller has successfully raised funding over 10 rounds, with the latest being a Secondary Market round. The company is backed by 12 investors, including recent ones like Centripetal and Zenith Venture Capital.
Keep reading to explore the intricacies of Truecaller's fundraising journey and the investors backing this innovative platform.
What Is Truecaller?
Truecaller, based in Stockholm, Sweden, is a prominent player in the mobile app and contact management industries. The company specializes in caller identification and spam blocking, offering its services on platforms like Android, iPhone, and Wear OS.
Founded by a team of innovators, Truecaller has grown to employ between 251-500 people. The app is trusted by over 450 million users globally, providing features such as real-time caller ID, spam blocking, and SMS fraud protection.
How Much Funding Has Truecaller Raised?
- Round Name: Private Equity
- Amount Raised: Not publicly disclosed
- Date: December 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial capital for product development and market entry.
- Round Name: Series A
- Amount Raised: USD 1,300,000
- Date: September 2012
- Lead Investors: OpenOcean
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance app features.
- Round Name: Series B
- Amount Raised: USD 18,800,000
- Date: February 2014
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow Truecaller's user base in the U.S.
- Round Name: Series C
- Amount Raised: USD 60,000,000
- Date: October 2014
- Lead Investors: Atomico, Kleiner Perkins, Peak XV Partners
- Valuation at Round: USD 300,000,000
- Motivation Behind the Round: To support the continued growth of its mobile apps and cover rising operational costs.
- Round Name: Undisclosed
- Amount Raised: SEK 23,000,000
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance app capabilities and expand market reach.
- Round Name: Series D
- Amount Raised: EUR 10,000,000
- Date: December 2016
- Lead Investors: Zenith Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve technology infrastructure.
- Round Name: Series Unknown
- Amount Raised: SEK 20,000,000
- Date: March 2017
- Lead Investors: Zenith Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop spam blocking features and enhance user experience.
- Round Name: Series Unknown
- Amount Raised: SEK 600,600
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product innovation and market expansion.
- Round Name: Series Unknown
- Amount Raised: SEK 50,000,000
- Date: October 2018
- Lead Investors: Zenith Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance app security features and expand user base.
- Round Name: Secondary Market
- Amount Raised: Not publicly disclosed
- 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: USD 80,100,000
Current Valuation: Not publicly disclosed
Key Investors
- Kleiner Perkins Caufield & Byers (KPCB)
- Details: KPCB is a venture capital firm that focuses on early-stage to growth-stage investments. They have a history of backing some of the most successful technology companies.
- Investment Focus Areas: Technology, life sciences, high-growth industries
- Notable Investments: Google, Amazon, Twitter
- Atomico
- Details: Atomico is a venture capital firm founded by Skype co-founder Niklas Zennström. They invest in technology companies with the potential for global growth.
- Investment Focus Areas: Technology companies, global growth potential
- Notable Investments: Skype, Supercell, Klarna
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has funded many of the most successful companies in Silicon Valley. They invest in seed, early, and growth-stage companies.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, WhatsApp
- Open Ocean
- Details: Open Ocean is a venture capital firm that focuses on data-intensive software companies. They were early investors in MySQL.
- Investment Focus Areas: Data-intensive software companies
- Notable Investments: MySQL, MariaDB, Truecaller
- Zenith Venture Capital
- Details: Zenith Venture Capital is a venture capital firm that has been involved in multiple funding rounds for Truecaller.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Truecaller?
Truecaller stands at the cusp of significant growth opportunities, particularly in the U.S. market. With 85 million users and a valuation of $300 million, the company is poised to expand its caller-ID app and integrate with other platforms. The potential for acquisitions to enhance service offerings and the development of new features, especially for Android, are substantial.
Future fundraising rounds seem likely as Truecaller continues to grow its user base and enhance its technological capabilities. Strategic investments and partnerships could further bolster its market reach and service quality. However, the company may face challenges such as high operational costs, competition, and regulatory hurdles related to user data privacy.
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