Truecaller, the caller ID app, is trying to raise $180 million to fund its growth to the US where it is thinking of building a company office in the Bay Area.
The app which currently has about 150 million users has seen a lot of traction in markets like India where it has about 80 million users.
True Software, maker of Truecaller has raised around $80 million to date from investors like Atomico, Kleiner Perkins Caufield & Byers, Sequoia Capital, Access Partners and Open Ocean.
It is rumoured that Morgan Stanley will be assisting Truecaller with this process which is likely to include new investors. It is also rumoured that the new investors might include Twitter and Google.
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.
The company makes revenues through in-app purchases for premium features, as well as advertising within the app.
Truecaller projects it will hit the 300 million user mark this year.
