Swype raises $5.6M for novel text-entry technology

Swype has raised $5.6 million in a second round of funding and has shown further momentum in getting its new text-entry technology off the ground.

The round was led by Samsung Ventures, Nokia Growth Partners and returning investor Benaroya Capital. The company will use the money to get its Swype technology into more mobile phones and other devices.

With Swype, you can enter text more easily into a cell phone text message. You begin typing a message with a virtual keyboard on a touchscreen phone. The device suggests different words for you to choose, and you make your choice by swiping your finger through the right word on the screen. Full story...