The company -- which has already seen interest from the likes of Kodak -- plans to use the money to expand its reach by offering additional APIs and becoming more accessible from mobile devices. In short, we should see TweetPhoto make a strong push to be integrated as the primary photo sharing option in multiple web, mobile and desktop social media applications.
What's particularly interesting is that the funding news comes on the heels of Twitter's acquisition of Atebits (a.k.a. Tweetie). Twitter argued that they purchased the third party iPhone application to support its service, however several developers interpreted the acquisition as a direct threat to their own businesses because it could erode the value of third party applications.
TweetPhoto could soon find itself in a sticky position should Twitter make an acquisition in the photo arena. Despite its name, TweetPhoto has branched out to support photos for Facebook, Foursquare, MySpace and LinkedIn with its "publish once, post everywhere" functionality. Its diversity may help it stay relevant if or when Twitter acquires or builds its own photo sharing service.