Private equity firm Sequoia Capital on Thursday said it has made an investment of Rs 305 crore in a local search engine Just Dial.
New Delhi: Private equity firm Sequoia Capital on Thursday said it has made an investment of Rs 305 crore in a local search engine Just Dial.
This is Sequoia Capital's third investment in Just Dial.
This round of funding will help drive marketing, technology investments and assist Just Dial in increasing service levels to consumers and advertisers, the private equity firm said in a statement.
However, it did not disclose the stake it picked up in Just Dial.
"Our investment reflects our strong conviction in the management?s ability to continue to delight consumers and serve their more than 1.7 lakh customer campaigns as the most efficient source of lead generation for Indian businesses," said Shailendra Singh Managing Director Sequoia Capital.
Founded in 1996 with an investment of Rs 50,000, Just Dial is a local search provider, using the Internet, phone, WAP and text messages.