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Rhythm NewMedia Gets $18M

MOUNTAIN VIEW, Calif. -- Rhythm NewMedia, a pioneer in mobile advertising, announced that it has closed $18 million in Series B financing. Carlyle Venture Partners, the US venture and growth arm of The Carlyle Group, a global private equity firm with over $44 billion under management, led this up round, joined by all existing institutional investors. Allan Thygesen, a Carlyle Managing Director, has joined the Rhythm NewMedia board of directors, joining existing investors Gary Little from Morgenthaler Ventures and Chris Schaepe from Lightspeed Venture Partners. Rhythm was seed funded by Rembrandt Venture Partners. Lightspeed and Morgenthaler co-led the Series A in July 2005. We have followed Rhythm carefully since our first meeting last fall, and are very impressed with how they have translated early thought leadership into market leadership in mobile video advertising, said Allan Thygesen, Managing Director at The Carlyle Group.

Rhythm NewMedia

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