#Asia From Beijing to protect the world: Mobi Magic secures US$100M


Another day, another 9-digit round out of China

Beijing FINAL

Beijing mobile app developer Mobi Magic has raised a US$100 million round co-led by China Internet security company Qihoo 360 Technology Co. and the tech-focused VC firm Frees Fund, according to China Money Network.

In early 2015 Mobi Magic raised a US$80 million funding from Qihoo 360 as well as Wang Liwei, Vice President of publically listed online game developer Beijing Kunlun Technologies.

Mobi Magic’s core product is a mobile security app called 360 Security (built in 2013) and just two weeks ago the company announced it has passed the 100 million daily active users mark.

Also Read: To open US$15.3M for scaling in China, Singapore’s Ksubaka inks joint venture with Fullshare

Qihoo 360 was the company behind the US$1.2 billion buy out of Opera, the maker of the world’s fourth-largest mobile browser, earlier this month. Beijing Kunlun was also involved in that deal.

At the end of June 2015, Qihoo 360 had 514 monthly active users on desktop and 800 million monthly active users on mobile, making it a top-three Internet company by user base in China, according to the company.

Frees Fund focuses on medical, hardware and deep technologies but has a wide-range of well known investments in its portfolio including Uber, Evernote and Creditease.

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