New York - Vringo, a video ringtone sharing service, announced on Tuesday that it has raised $12 million in its second round of financing, led by Warburg Pincus.

Israel-based Vringo's software is downloaded to a mobile phone, and then lets users select video clips and share them with other mobile users. The service is currently in public beta.

The company will use the financing to formally launch its product and fund global expansion in the U.S., Europe and Asia.

Related Links:
http://www.vringo.com/corporate/downloads/Warburg_Funding_kg-1.pdf