ChaCha nabs $14m from VantagePoint Capital and Rho Ventures for its online and mobile expansion

ChaCha nabs $14m from VantagePoint Capital and Rho Ventures for its online and mobile expansion

Question and answer site ChaCha has announced a $14 million round of funding led by investors VantagePoint Capital Partners and Rho Ventures. The financial terms of the deal were not disclosed.

Indiana, US-based ChaCha, which competes with services like Yahoo Answers, claims to be among the top fifty websites and top five mobile sites. Additionally, the site says it has answered more than two billion questions to date.

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According to CEO Scott Jones, “this round of funding enables significant investment in new products, allowing ChaCha to expand its mobile and online experiences for both users and advertisers.”

The company has shared that it plans to set up new offices in Los Angeles, and that over the past year, its monthly visits have more than doubled to 68 million. ChaCha claims its unique visitors also saw incredible growth in 2012, jumping from 25 million to 45 million.

The US-based service launched in the UK back in September 2011.

Image credit: Thinkstock / Polka Dot Images

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