Truecaller, the European company behind the popular caller ID app of the same name, has laid off 30 staff across its Stockholm, India and San Francisco offices as part of an apparent staffing strategy shift.
“We have let a number of consultants and few full-time employees go recently which is natural to any company in a high growth stage,” the company confirmed in a statement to TechCrunch. We heard rumors of this change this week, which was also spotted and reported on by Sweden-based blogs Breakit and Swedishstartupspace.
Back in July, we reported that Truecaller was raising $100 million at a $1 billion valuation. That round does not appear to have closed yet, but it could take the company into the much-hyped unicorn category of tech companies valued at $1 billion or more. To date, True Software, maker of Truecaller, has raised around $80 million — including a $60 million Series C. Its investors include Atomico, Kleiner Perkins Caufield & Byers, Sequoia Capital, Access Partners and Open Ocean.
Why are the jobs being cut? A source inside Truecaller told us that they are principally related to a change in staffing. Truecaller had employed a large number of contract-based staff, but it is now moving towards a structure of full-time teams. However, as its statement reads, some full-time staff were affected by the layoffs — which we also understand is mainly affecting the company’s central office in Stockholm, Sweden.
With its next raise still to close, this could be a little belt tightening and tidying of the house to lock down investor interest and get this important Series D round over the line.
The company’s signature calling app provides contextual information about people who ring you — such as their photo, information and whether they have been marked as spam by other Truecaller users. The app has over 200 million registered users, and it is particularly popular in India. This summer, Truecaller branched out to offer a ‘social’ SMS app.