How Much Did Truecaller Raise? Funding & Key Investors

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?

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
10. 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.
11. Round Name: IPO
    • Amount Raised: SEK 1,000 million
    • Date: October 2021
    • Lead Investors: Not applicable (public offering)
    • Valuation at Round: Not publicly disclosed

Total Amount Raised: USD 80,100,000. Rounds stated in SEK or EUR, including the October 2021 IPO proceeds of approximately SEK 1,000 million, are not included in this total.

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. The company was valued at $300 million in its October 2014 Series C. The potential for acquisitions to enhance service offerings and the development of new features, especially for Android, are substantial.

Truecaller has been listed on Nasdaq Stockholm since October 2021 under the trading symbol TRUE B. 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.

Use Clay to Get Funding Data

Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Truecaller and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.