Kingsoft Office Software, which makes an office suite that competes against Microsoft Word, Excel and PowerPoint, has landed $50 million in new funding from Morningside Group, GGV Capital and Shunwei China Internet Fund. The company, which recently incorporated in the U.S. and opened its North American headquarters in Palo Alto, will use its new capital to support its U.S. operations and expand globally by cementing partnerships with OEMs (for mobile preloads), software developers and service providers in the U.S., Latin America, Europe, the Middle East and Africa. Morningside and GGV will join Kingsoft's board of directors to help develop its global strategy.
Kingsoft Office Software's PC version currently has 120 million users worldwide, while its Android version recently passed 100 million registered users. A company spokesman told me that Kingsoft's primary focus in the U.S. is offering free software for mobile, while in emerging markets it will focus on both PC and mobile office products. Kingsoft is planning a major update to its iOS version that will add functionality similar to its Android apps.
Other recent steps Kingsoft has taken to increase its global footprint include investing in Go Launcher, an Android app maker based in Beijing that has 42 million monthly active users, 70% of whom are based outside of China. Sungy Capital, Go Launcher's parent company, announced in November it had picked $20 million from Kingsoft and antivirus software maker Qihoo 360.
Source: TechCrunch http://feedproxy.google.com/~r/Techcrunch/~3/36lpFcIkJ6E/
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