Sweden's Truecaller grabs $18.8M in Series B financing

By VCPOST Staff Reporter

Feb 07, 2014 10:20 AM EST

Truecaller, a Swedish verified mobile phone community, has secured $18.8 million in Series B financing. The round was led by Sequoia Capital, according to Business Standard.

Existing investors such as Truecaller chairman Stefan Lennhammer, Open Ocean, and other unnamed private investors also participated in the funding, the report said.

The Truecaller app helps identify unknown numbers that make a call on a mobile phone. The said application presently has more than 45 million users. Truecaller helps block spam calls. According to the Stockholm-based firm, it has helped turn away over 1 billion unwanted calls in under one year, the report explained.

The Swedish phone community said in a release: "As part of the company's ongoing commitment to expand its list of product features, the company is also announcing an integration of Yelp API (application programming interface) data as part of its new product launch on Android and iOS, which allows users to identify millions of reviewed businesses globally. The new Truecaller release incorporates new social features to make it even easier to update contacts and get in touch with people you may know."

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