Communications apps that strike a chord with users across different
markets are hot property these days, and it looks like another one of
them may soon enter the so-called unicorn club. TechCrunch has learned that Truecaller — a caller ID app that now has 150 million users — is looking to raise around $100 million at a $1 billion valuation.
We’re hearing that Truecaller has hired Morgan Stanley to lead the
process, and there are term sheets out. The round is likely to
have previous and new investors.
To date, True Software, maker of Truecaller, has raised around $80 million. Previous investors include Atomico, Kleiner Perkins Caufield & Byers, Sequoia Capital, Access Partners and Open Ocean.
The plan will be to use the funds to grow the product. Truecaller,
founded in Sweden, has seen a lot of traction in markets like India, its
biggest market at 80 million users. Now it wants to expand elsewhere,
like the U.S., and will be building out the company’s office in the Bay
Area.
The company is projected to hit 300 million users this year.
Truecaller works by aggregating directory services via deals with
white pages companies, and platforms like Yelp to bring in businesses.
It complements this with crowdsourced information from the app’s users.
That includes accessing your own address book, although you can opt out.
Individual users can also opt out from being listed.
It then uses big data analytics and machine learning to offer
additional services beyond caller ID such as predicting who you might
want to call next based on where you are and what time of day it is, or
what the top-reported spam number is in your area at the moment.
Other
features include spam blocking, directory services and “smart”
SMS services.... continue reading...
http://techcrunch.com/2015/07/29/truecaller-calling/
markets are hot property these days, and it looks like another one of
them may soon enter the so-called unicorn club. TechCrunch has learned that Truecaller — a caller ID app that now has 150 million users — is looking to raise around $100 million at a $1 billion valuation.
We’re hearing that Truecaller has hired Morgan Stanley to lead the
process, and there are term sheets out. The round is likely to
have previous and new investors.
To date, True Software, maker of Truecaller, has raised around $80 million. Previous investors include Atomico, Kleiner Perkins Caufield & Byers, Sequoia Capital, Access Partners and Open Ocean.
The plan will be to use the funds to grow the product. Truecaller,
founded in Sweden, has seen a lot of traction in markets like India, its
biggest market at 80 million users. Now it wants to expand elsewhere,
like the U.S., and will be building out the company’s office in the Bay
Area.
The company is projected to hit 300 million users this year.
Truecaller works by aggregating directory services via deals with
white pages companies, and platforms like Yelp to bring in businesses.
It complements this with crowdsourced information from the app’s users.
That includes accessing your own address book, although you can opt out.
Individual users can also opt out from being listed.
It then uses big data analytics and machine learning to offer
additional services beyond caller ID such as predicting who you might
want to call next based on where you are and what time of day it is, or
what the top-reported spam number is in your area at the moment.
Other
features include spam blocking, directory services and “smart”
SMS services.... continue reading...
http://techcrunch.com/2015/07/29/truecaller-calling/