Israel Digital News

Mobile video sharing startup Vringo has closed a Series B $12 million funding round led by Warburg Pincus. The financing will fund Vringo's global expansion into mobile phone markets in the US, Europe and Asia.

"Vringo is breaking new ground in personalization, we call it Personalization 2.0,” said Vringo's Chairman, Dan Ciporin. “Whereas in the past, ringtone content was mostly professionally created audio, Vringo content will be a richer multimedia and video experience with much of it being user generated."

Vringo provides users with the ability to share video ringtones each time they make a phone call. Vringo brings ringtones to life by integrating video clips, avatars, animation, greeting cards or photos whenever users make or receive calls.

The Vringo application, now in public beta, will soon be available on a wide set of mobile handsets including devices made by Nokia, Motorola, SonyEricsson and Samsung. The company will use this investment round to formally launch its product and to expand global partnerships with leading mobile operators and digital content providers.

Last month Vringo had entered into a trial licensing agreement with Universal Music Group (UMG). Under this agreement, Vringo subscribers will be able to personalize their own video ringtones, using clips from some of the most popular videos in UMG's collection.

Vringo was co-founded in 2006 by venture capitalist Jon Medved, the current Vringo CEO, and mobile software expert David Goldfarb, the company CTO. Ciporin was CEO and chairman of Shopping.com, until it was sold to eBay.

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