Appconomy, Inc., an Austin, TX-, and Shanghai, China-based developer of the Appconomy Commerce Cloud platform and mobile apps, has raised an additional $6m and completed a $16m Series A funding.
The company, which has just launched its JinjinTM mobile marketplace in Beijing and Shanghai, China, intends to use the capital to continue the rapid introduction of the Jinjin marketplace app and its mobile solutions across the country’s retail industry.
The Jinjin marketplace offers a cloud, location-based advertising and loyalty solution for brick-and-mortar retailers including food & beverage chains Golden Phoenix Bakeries, Burger King, Pepper Lunch, among others, as well as a variety of high-end health, beauty, and other goods & services merchants. For consumers, the marketplace offers a mobile loyalty and rewards program. It is available from the Jinjin website (http://www.jinjinapp.com) and popular Chinese Android app stores, e.g., HiAPK, Wandoujia, and Gfan, and will be available within days in iTunes for iOS users.
Led by Brian Magierski, President and CEO, and Steve Papermaster, Chairman of the Board of Directors, Appconomy has received more than $17.5m USD in venture financing from investors that include Qiming Ventures, True Ventures, and Neusoft Corporation. Neusoft is a comprehensive and primary strategic partner for Appconomy in China.