GetJar Gets $25M from Accel and Tiger Global
Mobile store operator GetJar announced late Monday that it raised $25 million in a third round of funding. The round was led by Tiger Global Management and included Accel Partners, which funded GetJar’s previous two rounds. San Mateo, Calif.-based GetJar raised an $11 million Series B round in June 2010 and a $6 million Series A round in 2007. At the time of its Series B round last year, a company exec told me that GetJar -- which was previously based in Lithuania, where founder and CEO Ilja Laurs started it and self-financed it during its early stages -- has been profitable since its first round of funding from Accel. Laurs (pictured) penned a column for the February issue of Venture Capital Journal in which he said that U.S.-based VCs understand that the parameters of the classic business model do not apply to the businesses they back, unlike their European counterparts.
