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Vringo, the video ringtone provider, has closed on a $12 million Series B round of venture capital funding. THe round was led by Warburg Pincus, a global equity firm.
The funding will be used to take Vringo around the world, as it expands markets in the US, Europe and Asia. Included in this announcement is Vringo's electing of George Allen, a principal at Warburg Pincus, to its board of directors. The video ringtone service, still in public beta, offers personalization tools that largely appeal to a younger demographic. Its community component makes it easy to find and share clips to be added to your phone. Vringo will soon be available on more handsets, including those manufactured by Nokia, Motorola, SonyEricson and Samsung.