Rapid Mobile Media raises £2m

Mobile ad specialist completes Series B funding round led by New Enterprise Associates.

Alliance Trust Equity Partners (ATEP) also joined existing investors Pentech Ventures and Scottish Enterprise's Scottish Venture Fund.

Rapid says the cash will be used as working capital to accelerate the commercial deployment of its Ad360 mobile advertising platform and Active Provisioning automatic mobile application deployment technology.

Jeremy Copp, CEO of Rapid Mobile Media, said: "We have already demonstrated the capabilities and robustness of our platforms in key reference customer deployments, now we are in a position to build value within the organisation on the back of current successes."