Sequoia India leads $18.8m Series B round for Truecaller
Sequoia Capital India has led a $18.8 million Series B round of funding for Truecaller, a Swiss mobile application that helps users identify spam callers. Existing investor Open Ocean, company chairman Stefan Lennhammer, and an undisclosed Silicon Valley-based private equity firm also participated in the round.
Founded in 2009, the Stockholm-based mobile technology firm provides services to block spam calls to users' mobile phones and help identify unknown phone numbers. It has more than 45 million users across the globe.
The fresh capital will be used to expand product features. Shailesh Lakhani, a principal of Sequoia Capital India, will join the board at the company.
The company also announced its integration with Yelp, an US-based online business review site, which can help Truecaller by indentifying numbers of local listings on the website.
"Truecaller is among the most engaging applications in many high growth smartphone markets, as it helps make users more efficient in avoiding spam calls and know who is calling them, " Lakhani said in a statement. "We are excited to help support the company's growing user community."
Sequoia Capital India currently has nearly $1.4 billion in assets under management. It operates offices in Bangalore, Mumbai, and New Delhi.
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