Truecaller is one of the world\u2019s most widely used caller identification platforms, with more than 500 million users<\/a>. Now it\u2019s entering a more challenging phase as growth slows in its largest market and competition intensifies across telecom networks and smartphone platforms.<\/p>\n Much of Truecaller\u2019s growth has been driven by India, which accounts for over 350 million users<\/a>, or about 70% of its global base. The volume of spam and unwanted calls has turned the app from a simple caller ID service into a more embedded layer of everyday communication.<\/p>\n That position is now shaping its next phase. The company has introduced features such as AI Assistant<\/a> and Family Protection<\/a> to drive monetization<\/a>, alongside tools like Community Suggestions<\/a> to stay relevant as competition intensifies. This comes as telecom-led solutions such as Calling Name Presentation (CNAP)<\/a>, dedicated number series<\/a> for verified business calls, and AI-based spam protection<\/a> gain traction in India. Meanwhile, smartphone makers including Apple<\/a> and Google<\/a> continue to build caller identification and spam-blocking capabilities into their operating systems.<\/p>\n As competition increases, Truecaller\u2019s growth is starting to slow. Data shared with TechCrunch from Sensor Tower shows downloads from India fell 16% year-over-year in 2025, while global downloads declined 5%, marking a reversal after several years of growth. Separate data from Appfigures shows downloads peaked at 175 million in 2021, dropped sharply in 2022 and have since hovered around 120 million annually.<\/p>\n India remains Truecaller\u2019s largest market, but its share of downloads has declined from over 70% at its peak to the mid-50s in recent years, pointing to a gradual shift in new user growth toward other markets.<\/p>\n Truecaller\u2019s shift in growth dynamics is being closely watched by investors. The company\u2019s shares have fallen about 78% since its 2021 IPO and are down around 37% so far this year, underscoring investor concerns about its growth outlook and business model. Chief Executive Rishit Jhunjhunwala told TechCrunch that one of the key questions from investors has been around the impact of CNAP in India. He also acknowledged recent headwinds in parts of the business, without elaborating further.<\/p>\n CNAP, an initiative pushed by India\u2019s telecom regulator<\/a> and is being implemented by telecom operators<\/a>, displays caller names based on KYC records at the network level without requiring third-party apps. This overlaps with part of Truecaller\u2019s core offering, but is more limited in scope.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco, CA<\/span> Truecaller\u2019s Jhunjhunwala said the company does not see CNAP as a disruption but as validation of the problem.<\/p>\n \u201cTruecaller operates as a global platform with a much richer and dynamic intelligence layer \u2014 spanning spam detection, fraud prevention, business identity, and user context across calls and messages,\u201d he said. \u201cThis allows us to go significantly beyond basic caller ID.\u201d<\/p>\n Bharath Nagaraj, director of equity research at Cantor Fitzgerald, said CNAP could slow user growth but is unlikely to materially disrupt Truecaller\u2019s core business in the near term. Instead, he pointed to pressure in the company\u2019s advertising segment \u2014 driven in part by changes from Google \u2014 as the more immediate challenge.<\/p>\n \u201cIf you look at the earnings for the company, 65%\u201370% of it now comes from ad revenue. And that impacted recently,\u201d Nagaraj told TechCrunch.<\/p>\n In its last earnings call<\/a> (PDF), Truecaller said that it lost roughly one-third of ad traffic from its largest partner in August 2025 \u2014 a partner analysts on the call identified as Google. Jhunjhunwala attributed the drop to an unresolved \u201calgorithm issue,\u201d while CFO Odd Bolin said the partner still accounts for more than a third of total revenue. The company is now adding new partners and building its own ad exchange to reduce dependence on any single platform.<\/p>\n But even moving to an in-house ad exchange may not fully address the challenge. Advertising remains highly competitive, with brands able to spend across multiple digital platforms, said Nagaraj. \u201cYou can show your ads on Truecaller, but you can also show them on Facebook,\u201d he said.<\/p>\n The pressure on advertising comes even as other parts of Truecaller\u2019s business are on a different trajectory. Data from Appfigures shows that while downloads have plateaued in recent years, gross in-app revenue has risen sharply \u2014 from $600,000 in 2017 to $39.3 million in 2025. It has already reached $13.4 million this year as of April 20.<\/p>\n Monthly revenue generated by in-app purchases on Truecaller is now consistently above $2 million and still climbing, per Appfigures.<\/p>\n Truecaller\u2019s presence on iOS has also grown from less than 5% of its total downloads in 2020\u20132021 to around 11\u201312% in recent years, per Appfigures, highlighting a shift toward higher-value markets. The company has stepped up efforts on Apple\u2019s platform, including launching real-time caller ID for iPhone<\/a> in early 2025 and rolling out feature updates to improve parity with its Android app.<\/p>\n Nonetheless, Apple recently expanded its call-screening capabilities, which could reduce the need for third-party apps among iPhone users.<\/p>\n Another key pillar of Truecaller\u2019s monetization strategy is its enterprise offering, Truecaller for Business, which enables companies to verify their identities and communicate with customers via calls and messaging. The segment has been growing steadily, with revenue rising 39% in constant currency<\/a> in 2025. Truecaller\u2019s Jhunjhunwala said the company is expanding the platform globally by opening its chat services to partners and offering tools such as verified business caller ID to help enterprises verify identity and reach customers.<\/p>\n Alongside its enterprise push, Truecaller has also been expanding its consumer subscription business, which has over 4 million paid subscribers globally, as more users opt for features such as advanced spam protection, AI-based call screening, and an ad-free experience.<\/p>\n In the past, Truecaller has been criticized over how it builds and maintains its vast database of phone identities. An investigation<\/a> by The Caravan raised questions about consent and data collection practices, particularly in India, where data protection laws have so far been less stringent. Truecaller has denied wrongdoing and maintains that it complies with applicable regulations, but the debate underlines the broader challenge of balancing utility, scale, and user privacy.<\/p>\n Despite all these challenges, Truecaller sees significant room for growth. The company is focused on addressing the rising complexity of communication, Jhunjhunwala said, as spam and scam calls become more sophisticated with advances in AI. Similarly, it plans to expand across all three revenue streams \u2014 advertising, enterprise services, and premium subscriptions \u2014 as it looks to sustain growth across markets. Whether that will be enough, however, may depend on how quickly it can adapt as caller identification shifts from standalone apps to the network, and to the phone itself.<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n![\"\"](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2026\/04\/truecaller-community-suggestions-feature.jpg\")
In-app revenue continues to grow<\/h2>\n
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