Truecaller has received an $18.8 million (about ₹117 crore) investment, its second round of financing, from a group of investors led by venture capital firm Sequoia Capital. The Stockholm-based company, with more than 45 million users across the globe, has more than half of its users in India. The company offers an application that shows name of caller on a mobile phone, even if the number is not saved on the phone. The other investors were its existing investor Open Ocean, Truecaller Chairman Stefan Lennhammer, and a private investor known for his high profile Silicon Valley investments. "With Sequoia, we have a partner who truly shares our vision, and together we look forward to continued innovation and global expansion by creating a helpful service that the entire world can use confidently,” said Truecaller co-founder and chief executive officer Alan Mamedi.
It company has also announced integration of Yelp API data as part of its new product launch on Android and iOS, which allows users to identify millions of reviewed businesses globally.