Investment firm Zenith Venture Capital today announced that it has invested 100 million Swedish Krona (a little more than €10 million) in Stockholm-based Truecaller (via Breakit).
Founded back in 2009, Truecaller offers mobile communication apps with services such as caller-ID, spam protection and other smartphone solutions.
Zenith, which was founded last year by Tommy Jacobson, says its investment constitutes existing warrants and shares in Truecaller.
The Swedish startup has raised more than €70 million to date, from heavy hitters like Atomico, Kleiner Perkins Caufield & Byers, Sequoia Capital and Open Ocean Capital.
“We welcome Zenith to the Truecaller family and are very happy to have them on-board. The Zenith team has highly valuable experience and a broad network in our sector", said co-founder and CEO Alan Mamedi. "The investment further enables key employees to exercise their warrants and become shareholders, which provides for long-term sustainability.”
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