JustDial, the online and telephone business listings service has raised $10 million from SAP Ventures, the investment arm of German software company SAP,and existing investor Sequoia Capital, reports The Economic Times. Although, the company has not revealed its plans for deploying the funds, the media report suggests that it intends to expand its geographical footprint, citing a senior official’s comment as a source.
Last year, JustDial had announced an IPO to raise Rs 700 crore for setting up a new campus in India and increase its global presence.
Sequoia Capital had invested Rs 40 crore in JustDial in 2009. The company had previously raised funding from investors SAIF Partners and Tiger Global in 2006-07. SAIF Partners has a 23% stake in the company- the largest among all the investors, while Tiger Global has invested Rs 77 crore.
The company claims to have a customer base of 57 million users across 240 cities in India, with more than 1,35,000 paid advertisers. It plans to expand operations in Canada, UK, Australia, New Zealand, Singapore and Hong Kong, and intends to leverage its brand and know how, for an International franchise.