Mobile Ad Platform Provider Rapid Mobile Media Raises $4 Million

Mobile ad platform maker Rapid Mobile Media has received £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 start up said it would use the money to accelerate the commercial launch of its mobile ad platform Ad360 (release).