Updated: Ringtone Retailer Thumbplay Raises $18 Million [Silicon Alley Insider]

Updated with official investor list. Thumbplay, the NYC-based ringtone distributor, has raised $18 million. Funders include Brookside Capital Partners, an affiliate of Bain Capital, and Cross Creek Capital, an affiliate of Wasatch Advisors.

The company says it will use the money to expand its product lines, back-end tools for content owners, publishers, and marketers, and will expand internationally -- potentially including acquisitions.

Last November we were told that Thumbplay was on track to do $100 million a year in revenue, and should be able to fetch a multiple of 2x or 3x. At the time, we reported that Thumbplay had hired Morgan Stanley to test the waters for a possible sale or more likely a fund-raising round.

See Also: Thumbplay On The Block: $500 Million For Ringtones?