Truecaller has crossed 400 million monthly active users, with the caller identification app continuing to see rapid growth across several markets, the Swedish company said on May 29. India is the largest market for the firm in terms of both users and revenue.
The announcement comes nearly three years after Truecaller crossed 300 million users in November 2021.
"Reaching 400 million active users each month is something we are, of course, very proud of, but at the same time, we know that the need for a solution like Truecaller is significantly greater," Truecaller co-founder Alan Mamedi said.
Mamedi said the problem of unwanted communication, spam, and fraud over the phone is growing for both individuals and businesses.
"New technology and increased opportunities for fraudsters to make money are driving this development. We continue to develop our app and add new functionality to protect our users before, during, and after a phone call or SMS," he said.
Earlier this month, Truecaller reported an average 383.4 million monthly active users across the world in the first quarter of 2024, up 39 million users from the year-ago period. The app's daily active users grew to 314 million during the quarter, an addition of 36 million year-on-year (YoY).
About 272.6 million monthly active users, which represents about 71.1 percent of its overall user base, were in India as of Q1 2024, the company said in its earnings results earlier this month. Of this, about 234.4 million are daily active users.
India also accounted for 74.2 percent of Truecaller's sales revenue in the quarter under review. Net sales from India were at 316.8 million Swedish Krona (around $30 million), up 8 percent from the year-ago period. The overall net sales increased by 10 percent to 427.2 million Swedish Krona ($40 million).
Last week, Moneycontrol reported that the Department of Telecommunications (DoT) has directed telecom companies to start trials for caller-name display service that will display caller names to combat spam calls.
Under the pilot, DoT will study whether to implement Calling Name Presentation (CNAP) on the network or have an in-built provision in the handset before deciding on the final implementation.
Truecaller's India managing director Rishit Jhunjhunwala recently told Moneycontrol that the CNAP service will complement the company's existing caller ID application service without adversely affecting its business.
Meanwhile, the Swedish firm has also introduced several artificial intelligence (AI)-based products in recent months. On May 29, it unveiled AI Call Scanner, a feature that can detect AI-generated voices and warn users on the phone call in real time.
The feature will be available to Truecaller's premium subscribers on Android, starting with the United States with plans to roll it out across the world. The company also plans to make it available on iOS devices soon.
Last week, Truecaller also partnered with Microsoft to let users create a digital version of their own voice to answer calls. This feature will be part of Truecaller's AI Assistant, available to premium subscribers.
Introduced in September 2022, the AI assistant can currently answer phone calls for users automatically, screen calls, take messages, respond on the user's behalf, or record the call for their later viewing.
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