Zenith Venture Capital (”Zenith”) who previously has invested in a range of retail tech and entertainment tech companies, has invested SEK100m in Truecaller.
The investment constitutes existing warrants and shares in Truecaller. Zenith, founded in 2015 by Tommy Jacobson, has primarily invested in Scandinavian companies such as Zound Industries, Urb-it, Vionlabs and Shopbox.
Tommy Jacobson, founder of Zenith comments: ”We are focused on promising tech-oriented companies, and as one of the most prominent companies on the Sweden scene we view Truecaller as a perfect match in our portfolio. Truecaller is an important step in Zenith’s development and we believe it will continue its successful expansion and become a globally dominant player”.
“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. The investment further enables key employees to exercise their warrants and become shareholders, which provides for long-term sustainability.” says Alan Mamedi, CEO and co-founder of Truecaller.
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 Zenith Incubator 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