8 Oct 2014

Our Investment in Truecaller — making the right connection at the right time

Mobile phones are central to our lives, but despite all of today’s tech advances, until recently little has been done to make the phone experience more intelligent, powerful and useful. For millions of people, it can still be hard work to make sure they have the right information to stay connected to businesses and people who matter to them, while avoiding nuisance calls from spammers who don’t.

That’s why we’re delighted today to be investing in Stockholm-based Truecaller in a $60m Series C round, alongside Kleiner Perkins Caufield & Byers and Sequoia Capital. Truecaller aims to help users connect as easily as possible, with more than 85 million people who use the service to search the right contact numbers and identify incoming calls.

Truecaller’s highly talented team, led by co-founders Alan Mamedi and Nami Zarringhalam, is achieving phenomenal growth in multiple countries. The product is seeing over 200,000 new users daily and sky-high usage in emerging markets across India, the Middle East, Brazil and Africa. And as the smartphone market continues to develop, the opportunity for global growth is evident.

Truecaller yet again demonstrates that great companies can come from anywhere, with a small team in Sweden changing how millions of people communicate in countries many thousands of miles away. We look forward to working with the team to help them reach the next 100 million users!