The investment arm of Neusoft Corporation helped US-based Appconomy, raise $10m in Series A equity and debt funding on Monday.
Appconomy plans to further expand its cloud-based platform for mobile marketing into China. Appconomy previously set up its strategic partnership with Neusoft in September.
Jiren Liu, executive chairman of Neusoft, said at the time of the strategic partnership: “Neusoft shares a common vision with Appconomy for a future of compelling value-creating apps powered by a common global platform. The combination of Neusoft’s scale and capabilities in alliance with Appconomy creates a global player with leading capabilities in the global app marketplace.”
Shanghai-based Qiming Ventures led the round with previous supporters California-based groups Western Technology Investment and True Ventures participating. Appconomy raised $1.5m in December 2010 in a round led by True Ventures. Qiming Ventures managing director Gary Rieschel will join Appconomy’s board.
The company uses its technology to allow app developers to integrate commerce and community services.
As part of the deal Gary Rieschel, Qiming Ventures MD, will join Appconomy’s board