Tablet publishing platform Onswipe is announcing a $5 million round of “Series Awesome” funding today after their one million in seed funding in January. The round will be led by Spark Capital and followed on by Lightbank, investment badass Yuri Milner, Lerer Ventures, SVAngel, Betaworks, Morado, Eniac and Thrive Capital.
And they’re really calling it a Series Awesome; Co-founder Jason Baptiste explained the need to raise even more cash, ”We realized what we are building is a larger opportunity than we ever thought while growing at a breakneck speed. In order to own the market we went out and raised a Series Awesome from the best group of investors possible that share our goal of world domination. And yes…the legal docs actually say Series Awesome.”
Onswipe most recently announced a partnership with WordPress.com to power the tablet experience of over 18.5 million blogs via the service. Threewords.me cofounder Mark Bao has also just joined the team as a CTO and Baptiste hopes to use the funding to scale his current team of 10 to 20-25 people in the next year, introducing a mix of engineering and business development positions.
Baptiste tells me that the service will launch fully on June 21st with “killer” (read: companies you’ve actually heard of) brand partnerships and “myonswipe,” a feature that allows Instapaper-like offline reading, all done in browser and in HTML5.
Actual term sheet cover page below. Stay tuned.
Onswipe is a platform that provides a way for publishers of all sizes to make their content and advertising a beautiful experience on touch-enabled devices via Web browser. With Onswipe, media content and advertising will appear and function as they do on native websites and applications, providing a magazine-like experience on touch devices. Onswipe addresses a growing industry need with tablet use on the rise.