India’s leading directory assistance company JustDial may close its second round of funding soon. New York-based hedge fund Tiger Management may invest $15 million in the Mumbai-based local search firm, sources said. In October 2006, JustDial received about $12 million from SAIF Partners, which was its first round of institutional financing.
JustDial was founded by VSS Mani. It currently employs about 1,500 people, and handles 23 million calls a year. The company had recently relaunched its website as an online local search engine. The local search business is becoming a hot business with Google itself testing a voice search application. Also, last month, Microsoft acquired Tellme Networks, a directory assistance company, for $800 million or so. Guruji, funded by Sequoia Capital India, is another local search company in India.