Mountain View, California (EastBayDaily) — Rhythm NewMedia, the largest mobile video ad network, today announced the completion of its third-round of financing, totaling $10 million. QuestMark Partners led the round, which included participation from existing investors Lightspeed Venture Partners, Morgenthaler Ventures and Rembrandt Venture Partners. Rhythm will use the funds to further fuel the rapid expansion of its mobile video ad network as demand for mobile video is growing sharply.
Rhythm’s publisher network is composed exclusively of trusted and well-known apps and mobile websites including the largest news agency, top broadcast TV networks, 10 of the top 25 cable networks and leading entertainment, news, games, sports, lifestyle, music sites and more. Focusing solely on premium publishers in the US only, Rhythm’s growing mobile video ad network averaged 425 million monthly impressions in Q3, and grew an impressive 30% from Q2 to Q3.
Through a combination of Rhythm’s premium publisher partners and deeply engaging ad units, Rhythm’s national sales team has already sold campaigns to over 100 Fortune 500 brands this year. Rhythm’s video and high impact display ad units provide deeper and more meaningful engagement through the captivating nature of video and rich media. As the exclusive provider of interactive, in-stream, pre-roll video ads across Android, iPad, iPhone, iPod Touch and Android, Rhythm has made it simple and effective for leading brands to run mobile advertising campaigns.
“Rhythm’s mobile video ad network has strong momentum, including a rapidly growing customer list of premium publishers as well as premium ad inventory from many of the largest US advertisers,” said Ben Schapiro, General Partner at QuestMark Partners. “The next wave of mobile advertising, which could ultimately become the largest advertising category, is brand advertising through mobile video and rich interactive ad units. We are impressed with Rhythm’s management team and its ability to execute well. QuestMark is delighted to provide funding to accelerate growth, as we believe the Company’s customers recognize Rhythm as the undisputed leader in the fast growing mobile video ad network market.”
Having pioneered the mobile video advertising market, we’re excited to see rapid adoption and market growth fueled by Fortune 500 brands, top publishers and investors such as QuestMark. With this new round of funding, we’ll continue making it easier than ever for large brands to create emotional and meaningful connections with their customers on their mobile phones through the power of video” said Ujjal Kohli, CEO of Rhythm NewMedia.
About Rhythm NewMedia Rhythm NewMedia is the largest mobile video ad network. We maximize revenue for mobile apps and websites through a combination of our proprietary Video Everywhere technology and experienced national sales team. Our high impact ad units provide deeper engagement through the captivating nature of video and touchable interactivity of smart phones. Our ad server optimizes revenue through dynamic targeting and pacing. Rhythm’s rapidly growing network averaged 425 million monthly impressions in Q3, all in the US, from top broadcast TV networks, 10 of the top 25 cable networks, the largest news agency and leading entertainment, news, games, sports, lifestyle, music sites and more. Our recent advertiser list includes eight of the top 10 US advertisers, 14 of the top 20 US advertisers, and over 100 Fortune 500 brands. For more information and to view Rhythm’s detailed Q3 2010 Mobile Video Ad Report, please visit: http://www.rhythmnewmedia.com.