The round valued the publication at $800m, said AllThingsD, citing sources close to the situation.
Existing backers Kleiner Perkins Caufield & Byers and Index Ventures also participated in the round, while Insight Venture Partners is taking a larger stake in the business, said the sources.
The round follows a $50m investment in 2011, which valued Flipboard at $200m.
Earlier this month, a motion filed by Kleiner Perkins to move a sexual harassment lawsuit filed by its former partner Ellen Pao to arbitration was denied by a judge. The case will be returned to San Francisco Superior Court.
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