The company makes revenues through in-app purchases for premium features, as well as advertising within the app. It then uses big data analytics and machine learning to offer additional services beyond caller ID such as predicting who you might want to call next based on where you are and what time of day it is, or what the top-reported spam number is in your area at the moment. Other features include spam blocking, directory services and “smart” SMS services. Individual users can also opt out from being listed. That includes accessing your own address book, although you can opt out. It complements this with crowdsourced information from the app’s users.

Truecaller works by aggregating directory services via deals with white pages companies, and platforms like Yelp to bring in businesses. Now it wants to expand elsewhere, like the U.S., and will be building out the company’s office in the Bay Area. The company is projected to hit 300 million users this year. Truecaller, founded in Sweden, has seen a lot of traction in markets like India, its biggest market at 80 million users. The plan will be to use the funds to grow the product. To date, True Software, maker of Truecaller, has raised around $80 million. Previous investors include Atomico, Kleiner Perkins Caufield & Byers, Sequoia Capital, Access Partners and Open Ocean. The round is likely to have previous and new investors. We’re hearing that Truecaller has hired Morgan Stanley to lead the process, and there are term sheets out. TechCrunch has learned that Truecaller - a caller ID app that now has 150 million users - is looking to raise around $100 million at a $1 billion valuation. Communications apps that strike a chord with users across different markets are hot property these days, and it looks like another one of them may soon enter the so-called unicorn club.

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