HubX raises $50m at a $1.2bn pre-money valuation to expand its app portfolio
The Turkish mobile-app company will invest in AI research, acquisitions and engineering as it builds a portfolio used around the world.
A portfolio spanning AI and consumer utilities
HubX builds and operates consumer apps across generative AI, education, health, fitness and productivity. Its portfolio approach combines product development with user-acquisition and optimization systems, allowing the company to launch and scale products for global mobile and web audiences.
Point72 Ventures led the $50 million financing at a $1.2 billion pre-money valuation. HubX plans to expand its machine-learning and generative-AI research teams, acquire consumer apps and grow engineering capacity. The company says it operates more than 40 products that have reached over 600 million users across 190 countries.
Use of funds
Expand machine-learning and generative AI research teams
Acquire consumer mobile applications
Scale engineering workforces