Flipboard, which was rated as one of the top mobile apps of 2010 in Apple’s Rewind chart, aggregates news and user-generated content from social networks then displays it in a magazine format.

CEO and co-founder Mike McCue confirmed the round of funding and said the cash will be used to increase its headcount from 32 to 50.

He added that it would be used to boost its expansion outside of its Cupertino base, including opening international offices, as well as launching other versions of Flipboard, including an iPhone version.

The bulk of the latest investment was sourced from Insight Venture Partners, plus angel investors including Kleiner Perkins and Index ventures.