Text Answers Service ChaCha Nabs $20 Million In Series F

We’ve just heard that mobile Q & A service ChaCha just raised $20 million in Series F funding lead by VantagePoint Venture Partners and Rho.

ChaCha, founded by Scott Jones, has been around almost five years and has answered nearly one billion questions. This latest financing round follows a $7 million Series E in December of 2009, which means that ChaCha now boasts a whopping $72 million in funding to expand its free text messaging product.

You can ask a question on ChaCha via text and via voice, with 98% of users texting. With 15 million uniques a month, ChaCha was most recently in the news for standing up to the T-Mobile tax on text messages as the company sends over 2 million text messages a day.

With companies like Formspring and Quora reviving the burgeoning Q & A space, it’ll be interesting to watch what ChaCha does with the money in order to expand its current reach.