Truecaller provides public phone directories crowdsourced from mobile phones. Users can share their phone's phonebook, and then get access to the greater system.For privacy concerns, users can opt-out at any time.
“We are excited to invest in Truecaller, as the company aims to deliver a service that is valuable for every citizen as well as all businesses in the World. Truecaller is a perfect fit for Open Ocean Fund Three’s investment focus, developing a rapidly scalable business on the basis of a crowdsourcing strategy and high virality.”, says Ralf Wahlsten Open Ocean Partner.
SOURCE LINK to full article: http://www.arcticstartup.com/2012/09/19/truecaller-receives-e1-million-funding-from-open-ocean-capital