Qualcomm May Be The ‘Answer’ for ChaCha’s Growth

Real-time answers service ChaCha continues to rake in the cash from interested investors.

After securing $20 million in financing just last fall from VantagePoint Venture Partners and Rho Ventures, ChaCha announced this week that it has obtained another $3 million in funding from Qualcomm Ventures – the investment channel of Qualcomm Incorporated.

This move marks Qualcomm’s first investment into ChaCha, which has raised an estimated $75 million during its first five years of existence – a period in which one billion questions have been answered by the service.

“ChaCha is pleased to welcome Qualcomm to its list of top-tier individual and institutional investors,” says Scott Jones, ChaCha’s CEO.

“As one of the world’s leading wireless technology companies, Qualcomm maintains a broad array of partnerships spanning the wireless industry. Their experience and insight into the global wireless ecosystem will help ChaCha continue to expand its service worldwide.”

ChaCha’s human-powered answers service receives in excess of 3 million questions daily and enjoys more than 30 million unique monthly users.

The investment of capital and faith in ChaCha from Qualcomm is poised to help the service grow even more rapidly. According to ChaCha’s press release announcing the deal with Qualcomm, ChaCha.com is the fastest-growing website in the Top 100 as measured by comScore (ChaCha.com traffic jumped 116 percent in 2010).

Additionally, ChaCha is now ranked number 56 on Quantcast, vaulting past companies such as MTV, NYTimes, TMZ, and Yelp.