AdaptiveMobile catches $14M for parental-control offerings

Mobile security software developer AdaptiveMobile said it pocketed $14 million in a second round of funding.
Doughty Hanson, an early-stage venture capital fund, led the round, joined by Noor Financial Investment Co. and Intel Capital. AdaptiveMobile said it plans to use the cash to expand support for its technology, which allows carriers to offer parental controls and other security policies across mobile services including WAP, SMS, MMS and mobile e-mail.
“We have a head start in this market,” said AdaptiveMobile CEO Lorcan Burke. “Our timing is good. We understand the challenges of this industry, and have proven the product capabilities as a complete mobile security solution.”