Mobile ad platform wins £2m funding

Scotland -based Rapid Mobile Media, a startup mobile ad platform, has won £2 million ($4 million) in a second round of funding from US VC firm New Enterprise Associates (NEA). It was joined by Alliance Trust Equity Partners (ATEP) as new investors in the company, along with existing investors Pentech Ventures and Scottish Enterprise’s Scottish Venture Fund. The money will be used to accelerate the commercial launch of its mobile ad platform Ad360. The company to beat in this space at the moment is AdMob, which is currently in the process of introducing new mobile advertising capabilities around mobile-specific targeting and relevance, and currently serves over 1 billion mobile ads a month.