Swype scores $5.6M in funding

Following the launch of the first device using its technology, Swype Inc. announced it has secured $5.6 million in series B funding led by Samsung Ventures, Nokia Growth Partners and returning investor Benaroya Capital. Swype said the funds will be used to further fuel its partnerships integrating its technology into more mobile handsets and ultimately expand to other touch and remote screen devices.
Swype’s technology allows users to connect letters on a “soft” keyboard to spell out words instead of having to hit individual “keys.” The technology recently launched on Samsung Electronics Co. Ltd.’s Omnia II smartphone that is available through Verizon Wireless.
“The level of confidence shown by investors in our Series B, especially coming from two of the largest device manufacturers in the world and a returning investor, demonstrates the viability of our product and the known added value it can bring to mobile devices,” said Mike McSherry, CEO of Swype. “We’re thrilled with these strategic partners and look forward to launching Swype on a number of new devices and platforms.”
John Gardner, partner at Nokia Growth Partners said “UI technology is a key part of our view of the growing mobile market. We are delighted to participate in this round of funding for Swype, enabling them to bring their cutting-edge technology to more mobile and touch-screen devices.”
“We are excited about the significant potential associated with Swype’s innovative technology,” said Brian Kang, managing director at Samsung Ventures America. “We believe that Swype is playing a leadership role in the evolution of mobile user interfaces and is providing an exciting breakthrough technology that can be implemented in a variety of ways.”