ChaCha, the real-time human-powered search engine, announced today it received $8 million in private equity funding and a $2 million grant from Indiana’s 21st Century Technology Fund resulting in total proceeds to the company of $10 million.
Morton Meyerson, a first time investor in the company who led the round, joins ChaCha investors Bezos Expeditions, the personal investment firm of Jeff Bezos, Rod Canion, founding CEO of Compaq Computer, and Jack Gill, veteran Silicon Valley investor, founder of Vanguard Ventures and current partner at Maven Ventures.
”It is rare to find a company offering such a game-changing disruptive equation, even in the context of giants like Google, Yahoo and Microsoft. Having had the opportunity to work with the entire ChaCha team, I am especially impressed with the caliber of people driving this groundbreaking company,” said Meyerson.
“I am excited for ChaCha’s future potential and think its plan to build upon its human-powered search engine to develop a mobile answers application is brilliant. ChaCha is absolutely in the right place at the right time in a multi-billion dollar industry that is ripe for innovation.”
Meyerson’s investment supports ChaCha’s plan to launch several unique services in early 2008. ChaCha is also pleased to announce Meyerson has been elected to its board of directors.
We disagree with Morton Meyerson. Firstly, as the image above shows ChaCha is not always available with a live guide.
Secondly the graph above shows the traction that ChaCha has received. Based on these figures they have a long way to go. The growth they have experienced is what we would expect from a blog or commerce website and not for a new approach to search. Both Yahoo and Google grew very rapidly.
ChaCha is going to need a great deal more money if it plans to service consumers with real time human-powered search results.
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