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GetJar raises $25m in series C funding from Tiger Global Management

15 Feb 2011

Smartphone app store GetJar has raised $25m in series C funding from venture capital firm Tiger Global Management.

Accel Partners, which provided its series A and B rounds, will also participate in the series C funding.

The company says the new capital will be help it expand sales, marketing and engineering initiatives.

GetJar plans to expand its offering to Android publishers while continuing to support other smartphone platforms such as Blackberry and IOS.
In the past year, GetJar has quadrupled its download rate, with 1.5 billion downloads so far.

“GetJar has the rare combination of a differentiated, cross-platform app store solution coupled with a unique revenue model,” said Lee Fixel, managing director at Tiger Global Management.

“We’ve been highly impressed with the leadership team and their ability to disrupt the marketplace with the fraction of spend compared to the likes of Google and others.”

Market research firm Gartner forecasts that global mobile app store revenues will triple from $5.2bn last year to $15bn in 2011, and keep growing to $58bn by 2014.

Gartner estimates total app store downloads will reach 17.7 billion, with 80 percent of those being free.

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