Bethesda, Md. – Kajeet, the developer of a pay-as-you-go
cell phone service for kids, has raised $18.1 million in a mixed offering,
according to a filing with the Securities and Exchange Commission (SEC).
The
offering consisted of both equity and notes involving four investors.
Founded
in 2003, Kajeet offers online tools that help parents control when their
children use their phone and who they communicate with, as well as a GPS
locator function that tells them where the phone currently resides.
The company
in 2008 landed $10 million debt financing from BlueCrest Capital Finance, and
previously had raised nearly $64 million in venture capital funding.
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