US-based mobile publishing company 955 Dreams completed a $3.25m seed round on Thursday with participation from investors including the AOL-backed Crunchfund.
The round was co-led by startup accelerator 500 Startups and venture capital firm M8 Capital, and featured participation from seed investor Kapor Capital and angel investment fund Felicis Ventures.
955 Dreams operates an online publishing platform that releases next generation magazines in the form of mobile applications (apps), catered specifically for viewing on mobile devices.
955’s latest release, Band of the Day, was released on the iPad alongside the funding. Band of the Day was released on other iOS devices earlier in the year, finishing runner-up in Apple’s App of the Year award.
The capital will be used to expand its product range, while bringing its existing apps to other mobile platforms and increasing its presence internationally.
Dave McClure of 500 Startups will join 955’s board of directors in conjunction with the round’s closing.