Rapid Mobile Media Secures ?2m Series B Funding
Mobile Advertising & Service Provisioning Platform Provider Welcomes NEA and Alliance Trust Equity Partners as New Investors
6th March, 2006
Rapid Mobile Media Ltd, providers of innovative mobile advertising and mobile application provisioning software platforms, today announced the completion of a second investment round of ?2m led by US venture capital firm New Enterprise Associates (NEA) who were joined by Alliance Trust Equity Partners (ATEP) as new investors in the company. Existing investors Pentech Ventures and Scottish Enterprise?s Scottish Venture Fund also participated in the round.
The new cash investment will provide Rapid Mobile Media with working capital to expand on current successes and accelerate the commercial deployment of its Ad360 mobile advertising platform and Active Provisioning automatic mobile application deployment technology.
?Rapid Mobile offers a unique approach to solving the device diversity issues that many organisations face when delivering mobile advertising and services?, said Mike Ramsay, Venture Partner at NEA who also joins the Rapid Mobile Media Board as Investor Director. ?By enabling the rapid deployment and monetisation of services, we believe Rapid Mobile is ideally positioned to achieve significant success in the rapidly growing mobile advertising market ? providing for the delivery of high quality display advertisements both within applications and mobile internet sessions.?