Mumbai-based Just Dial Ltd, one of India’s leading local search engine providers has raised an investment of Rs 305 crore from Sequoia Capital Global Equities. This is Sequoia Capital’s third investment into Just Dial.
Mumbai-based Just Dial Ltd, one of India’s leading local search engine providers has raised an investment of Rs 305 crore from Sequoia Capital Global Equities. This is Sequoia Capital’s third investment into Just Dial.
The current round of funding will help drive marketing, technology investments and assist Just Dial in increasing service levels to consumers and advertisers, the company said in a press release announcing the investment on Wednesday.
Shailendra Singh, Managing Director, Sequoia Capital said, “We believe Just Dial enjoys an unassailable market position in local search, developed through many years of fantastic execution. Our investment reflects our strong conviction in the management’s ability to continue to delight consumers and serve their 170,000+ customer campaigns as the most efficient source of lead generation for Indian businesses.”
Announcing the funding, VSS Mani, CEO & Managing Director, Just Dial Ltd said, “Sequoia Capital has been a great partner for us since they came on board in 2009 and with this investment the partnership has graduated to a new level. We welcome this additional investment by Sequoia as it meets our purpose of having adequate cash to meet our short, medium and long term strategic objectives.”
Just Dial has a database of approximately 7.8 million merchant listings across various Indian cities and towns, with over 12 million merchant ratings and reviews. The campaigns it serves are by SME advertisers who use its platform to market themselves directly to consumers who may have an interest in their products or services.
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