Mobile Ad Firm Rhythm NewMedia Receives $18 Million Second Round Funding

Mobile advertising startup Rhythm NewMedia, based in Mountain View, CA, has received big second round: $18 million, led by Carlyle Venture Partners. Rhythm was seed funded by Rembrandt Venture Partners. Lightspeed and Morgenthaler co-led the first round in July 2005. Earlier this year the firm launched an ad-supported music video trial with EMI in U.S. and is also expanding into UK.
In U.S, the firm is competing against the likes of Third Screen Media, among others. More details in the release here.

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