HomefundingTouchType Raises £1.5M in Series A Funding

TouchType Raises £1.5M in Series A Funding

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TouchType Ltd., the London, UK-based company behind the Android™ keyboard application SwiftKey, has raised $2.4m (approximately £1.5m) in Series A funding.

The round was led by Octopus Investments, with participation several European angel investors and venture capitalists including:
Cambridge Capital Group;
Jon Craton, Cramer Systems founder;
Nick Hynes and Carl Uminski, CEO and COO founders of Somo;
Richard Brennan, former CMO of Orange Group; and
Andrew Thornton, barrister with Erskine Chambers.

The company intends to use the capital to strengthen its executive, commercial and technical teams, increasing its worldwide presence, particularly in the US and Asia, accelerate consumer and corporate adoption of SwiftKey as well as developing the underlying Fluency Engine, as well as continuing to innovate in the fields of natural language processing, artificial intelligence and machine learning.

TouchType’s SwiftKey uses the patented natural language Fluency™ engine technology to learn a user’s writing style, correcting and predicting their text input with unrivaled accuracy, in this way reducing keystrokes, and speeding up text entry on smartphones, tablets, and other devices.
The app has attracted more than 3.5 million downloads.

Founded in August 2008 by Jon Reynolds, CEO and Dr Ben Medlock, CTO, the company currently has over 30 staff in London.

FinSMEs

07/12/2011