Mobile security group raises $14 million in round B

LONDON — AdaptiveMobile, a Dublin, Ireland based start up focusing on mobile security software, has raised $14 million in a second round of financing that was led by existing investor Intel Capital, with additional funds coming from Doughty Hanson and Noor Financial Investment Company.

The initial investment from Intel's VC arm was $5.5 million.

The company says the extra money would be used for global expansion. It suggests the market for mobile customer usage protection and mobile security is growing rapidly as operators seek to guard over 2.5 billion consumer and enterprise customers.

AdaptiveMobile says it has a head start in this market. Lorcan Burke, CEO, said in a statement Thursday (June 7): "Our timing is good. We understand the challenges of this industry, and have proven the product capabilities as a complete mobile security solution. We’re focused on our target markets and have good customers and strong partnerships to build on."

The company is developing software and applications that provide unified mobile customer protection across all cellular technologies, security threats and media types. This includes protection against illegal or inappropriate content, viruses and malware, unsolicited messaging and unauthorised communications.

Its software is said to work across all mobile services and types of access, including cellular, Wi-Fi and mobile WiMax, and all media, including mobile internet, text, images, music, voice and video.

The company has forged strategic partnerships with network infrastructure providers such as Cisco and HP, and has strong relationships with enterprise security companies such as Symantec, McAfee, Trend Micro, Sophos and Websense for anti-virus signatures, anti-spam and Internet categorisation filtering.