Just Dial raises $10 million from SAP Ventures and Sequoia Capotal

BANGALORE: Local search engine Just Dial raised around $10 million from SAP Ventures and Sequoia Capital Global Equities, the company said on Monday.

The Mumbai-based firm, set up by first-generation entrepreneur VSS Mani in 1996, connects potential buyers of products and services with small businesses. Just Dial enables users to to search for local merchants ranging from restaurants, retail stores to plumbers and pest control units through internet, phone, WAP and SMS.

It claims to have 57 million unique users across 250 cities and towns in India.

“With the increased penetration of mobile phones and growing use of the Internet in India, we believe that consumers will increasingly depend on local search to find services and products located near them” said Jai Das, MD of SAP Ventures, said in a statement.

Although the company did not disclose how these funds will be invested, a senior company official said the $10 million would power it into the growth phase as it bets on expanding geographically. Just Dial has earlier raised funds from SAIF partners, Sequoia Capital India and Tiger Global.

SAP Ventures, funded by enterprise application software company SAP, has invested in companies such as Endeca, iYogi and LinkedIn. Sequoia has invested in the likes of Google, Yahoo and Apple overseas.