Chinese Internet giant Alibaba Group has led the Series C investment of US-based search engine for apps Quixey.
Quixey has added to its venture capital takings by securing $50 million through a deal led by Alibaba Group, alongside GGV Capital as well as existing backers Innovation Endeavors, TransLink Capital, US Venture Partners, Atlantic Bridge and WI Harper.
The company has raised $74.2 million to date.
The additional funds will be used to further develop Quixey’s market leading Functional Search(TM) technology, which allows users to find apps by describing what they want to do, and will also be used to strengthen Quixey’s deep roster of employees.
“Next year, 95 per cent of the world’s population will have mobile access, and by 2016 people will use 1.5 billion smart mobile devices. Quixey is at the epicenter of this brave new world, and this investment will ensure that we continue to expand globally,” said Quixey co-founder and CEO Tomer Kagan.
“Apps have moved from novelty to a major factor in purchasing decisions for consumers and we’ve only just started to scratch the surface of what they can do.”
Alibaba Group’s mission is to make it easy to do business anywhere. Since its inception, it has developed leading businesses in consumer e-commerce, online payment, business-to-business marketplaces and cloud computing, reaching Internet users in more than 240 countries and regions.
“Innovation is at the heart of Alibaba’s culture, so backing entrepreneurs who are developing forward-thinking technology is what we love to do,” said Alibaba EVC Joe Tsai.
