Swype raises $5.6 Million for Text Input Software

Xconomy’s Gregory T. Huang reported yesterday that Seattle-based Swype has raised $5.6 Million in Series B equity financing from new investors Samsung Ventures and Nokia Growth Partners, and returning investor Benaroya Capital.

Swype is a new method to enter text on screens which enables users to type 30+ words per minute on handheld devices with virtually no learning curve. There is really no point in trying to describe how Swype works – this demo does a much better job.

The funding should help Swype expand its technology to more mobile phones around the world, and eventually explore other types of devices as well.

While $5.6 Million is a solid raise, more significant with this new funding is that Swype now has two of the world’s largest mobile phone manufacturers supporting its technology through Samsung’s and Nokia’s venture groups.

Huang reports that Swype will be coming out on Android devices and at least two other operating systems in the New Year.

Swype was co-founded in 2002 by Cliff Kushler and Randy Marsden, and is led by CEO Mike McSherry. The company now has 20 employees and is hiring.