Boston-based Fiksu plans to open Asian office after being funded by Qualcomm Ventures
August 15, 2012 by Terence LEE
The company has 100 staff but aims to double its payroll in 2013. It will be opening another office in the United Kingdom.
The investment will also go towards scaling their real-time bidding system, which enables developers to find the most cost-effective way of acquiring new users across different channels.
“As both the iOS and Android app stores have filled up with north of 1 million apps, it’s becoming harder for developers to bring in new users. They fight over limited and increasingly expensive visibility at the top of the charts,” Craig Palli, the company’s VP for business development, told TechCrunch.
Founded in 2008, Fiksu has so far raised USD 16.7M in funding — a USD 1.25M seed round in 2010, followed by a USD 5.5M Series A in the same year, led by Charles River Ventures, which also invested in the latest round.
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Terence LEE - Editor
Terence writes mainly about technology trends and startups in Asia. He believes in crafting smart content: Not just a regurgitation of text, but well thought-out pieces that serve the reader using a combination of data, design, narratives, analysis, and visual impact. His articles have been published on Venturebeat, Yahoo!, Straits Times, Today, and The Online Citizen. He also co-founded NewNation.sg, a satirical news site covering Singapore affairs. Engage him on LinkedIn and Twitter.Read other posts by Terence LEE