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Swype Raises $2.5M

       
Swype announced that it raised an additional $2.5 million in Series C financing led by existing investors Samsung Ventures, Nokia Growth Partners, Benaroya Capital, DOCOMO Capital and Ignition Partners.
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SEATTLE, WA, Swype today announced that it raised an additional $2.5 million in Series C financing led by existing investors Samsung Ventures, Nokia Growth Partners, Benaroya Capital, DOCOMO Capital and Ignition Partners. This new financing adds to the existing $3.5 million raised in March with Ignition Partners and brings Swype's total series C to $6 Million. The new funding will only help enhance Swype's impressive growth with the goal of becoming the default keyboard for all touch-screen devices.

"We see an acceleration of devices shipping with Swype," said Mike McSherry, CEO of Swype. "We've signed 15 OEM partners and have shipped on over 50 million devices in the past 18 months in over 50 countries."

Swype expects its innovative text input technology to be preloaded on over 100 million devices around the world by the end of this year with its partners. The additional funding will help Swype on its international expansion and will enable it to adapt the technology beyond phones and tablets to additional platforms such as game controllers, TV's and in-car displays.

The company recently released Swype 3.0, the latest version of its software with new features such as predictive tap andhorizontal word choice, along with an optimized design for Android Honeycomb tablets, which features a movable and resizable keyboard. Here's a video overview of Swype 3.0: http://bit.ly/n6ZMMs.

The company has grown to 80+ employees and recently opened three new offices in North Carolina, Massachusetts, and Korea to supplement their headquarters in Seattle, WA. In addition, Swype was recently recognized by the State of Washington as Emerging Trader of the Year, which is highlighted here: http://bit.ly/pDcai5.

About Swype

Swype's patented technology provides a faster and more intuitive way to input text on touch-screens. With one continuous finger or stylus motion across the keyboard, users can enter text at over 40 words per minute. Swype was developed by experts in computing and mobile phone text input technologies. Cliff Kushler, founder and CTO, is a co-inventor of the T9 text input software installed on over five billion mobile phones. Co-founder Randy Marsden, developed the on-screen keyboard softwarethat has shipped on over one billion copies of Microsoft Windows. For more information visit: www.swype.com or follow us on Twitter @swype.



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