In December 2016 it was announced that Zenith Venture Capital II invested c.SEK100m in Truecaller. Further to this, Zenith is now announcing an additional investment of c.SEK 20n in Truecaller.
Tommy Jacobson, Chairman of Zenith Venture Capital II says: “I don’t think I have ever experienced an investment where virtually all parameters, which formed the basis for investment decision, has consistently exceeded managements’ predictions. Truecaller is an extremely exciting company in a commercial breakthrough-phase, and I consider it an honour to invest together with entrepreneurs such as Alan and Nami. When we got the chance to further invest SEK20m it was a very easy decision to make.”
About Truecaller: Truecaller is a leading global player in mobile communication apps offering services such as caller-ID, spamprotection and other smart phone solutions. Truecaller is headquartered in Stockholm, and was founded in 2009 by Alan Mamedi and Nami Zarringhalam. Shareholders include Sequoia Capital, Atomico and Kleiner Perkins Caufield Byers. For more info, please visit www.truecaller.com.
About Zenith: Zenith Venture Capital is an early-stage tech investor focussed on the Nordic region and the retail & entertainment sectors. Since the foundation, 14 investments have been carried out through Zenith I and II, including ZenithIncubator that focusses on seed investments. Zenith is an active investor and works closely with its portfolio companies on a daily basis. The company was founded in 2015 by Tommy Jacobson and is based in Stockholm. For more info, please visit www.zenith.vc.