Appconomy Closes $10M Series A Funding

Appconomy, an Austin, Texas-based company that operates a cloud-based platform for mobile marketing and commerce, has closed a $10m Series A equity and venture debt funding.

Backers include leader Qiming Ventures, Chinese IT solution and service provider Neusoft Corporation, as well as existing investors Western Technology Investment and True Ventures.

The company intends to use the funds to accelerate its strategic initiatives and operations in China.

Led by Chairman and co-CEO Steve Papermaster and President and co-CEO Brian Magierski,, Appconomy connects consumers and merchants through its AppWallet(TM) marketplace and AppWallet(TM) app for smartphones, tablets, and feature phones. The company recently closed a strategic alliance agreement with Neusoft Corporation, to plan to leverage combined customers and partners in China and the U.S., the two largest markets for apps in the world.

In conjunction with the funding, Qiming Ventures Managing Director Gary Rieschel will join Appconomy’s board of directors.

in China, the company has corporate headquarters in Shanghai and a development center in Chengdu, Sichuan province.



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