Richardson-based Mavenir—a cloud-native network infrastructure provider for the telecommunications services market—has announced raising “up to a $75 million investment” from an existing investor.
Mavenir didn’t disclose the investor’s identity, but said the additional capital will drive its business strategy, which is anchored in “end-to-end 5G transformation.”
President and CEO Pardeep Kohli said that Mavenir “continues to be an industry leader at the forefront of network innovation and automation.”
“With our investor group’s support, we will accelerate strategic investments in Open RAN and 5G Core solutions and efficiently meet our product roadmap,” he added in a statement. “We’re excited to continue building networks of the future for the benefit of our customers and partners.”
The company’s CFO, Terry Hungle, added in a statement that “the steadfast support and confidence from our partners sets us up for long-term success. This positions us for growth as we accelerate the 5G transformation and bolster the global expansion for our products and solutions.”
Mavenir raised $850M in investments between 2021 and 2023
In May 2023, Mavenir announced the close of a $100 million capital raise that aimed to enable the digitization of telco networks with cloud-native applications that include IMS, Converged Packet Core, and Open RAN.
That capital raise came on the heels of an earlier $250 million fund raise between July and October 2022.
But the company’s biggest single raise came in April 2021, when it snagged a $500 million minority equity investment from Wichita, Kansas-based Koch Strategic Platforms, a subsidiary of Koch Investments Group. At the time of that 2021 deal, affiliates of Siris Capital Group, a New York-based, tech-focused private equity firm, remained majority equity holders.
Driving down spam and scams in the Philippines
On Wednesday, Mavenir announced that its SpamShield messaging fraud prevention technology is driving “a steep decline” in the volume of spam and scam messages for Philippines-based Globe Telecom, “demonstrating its ability to disincentivize scammers and successfully boost customer protection against fraudulent, malicious, and nuisance messaging.” The volume of such messages dropped by 67%, from 1 billion in Q1 2023 to 362,000 in Q1 2024, Mavenir said. The company noted that the Philippines is “one of the large SMS markets in the world,” and addressing the growth of spam and scam messaging is a key priority for the government’s National Telecommunications Commission.
Amazon Web Services collaboration
Earlier this month, Dallas Innovates wrote about Mavenir’s five-year strategic collaboration agreement with Amazon Web Services to “revolutionize” the deployment of telecom workloads running on AWS. Under the collaboration, the companies plan to jointly design Mavenir’s technology to create a new telco-grade deployment model, with the aim of transforming how operators launch 5G, IMS (IP Multimedia Subsystem), Radio Access Network (RAN), and future network technologies.
‘Significant’ Vodafone contract expected later this year
Mavenir expects to secure a significant commercial OpenRAN 5G contract from Vodafone Idea later this year, according to the India-based financial and business portal Moneycontrol. Mavenir said it has been conducting trials and is preparing for large-scale deployment, with manufacturing support from its facility in Pune, India.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
Arhasi and Cloudbench, a Google partner and leading emerging technology consulting firm, have launched a joint AI and data foundry in Frisco, staffed with experts from top universities. The foundry aims to drive innovation in AI and Web3 technologies.
-
The move will harness the "high availability, scalability, and security capabilities" of AWS services to create a new telco-grade deployment model, the companies said. The new model aims to transform how operators launch 5G, IMS, Radio Access Network, and future network technologies.
-
MobileComm, a global telecom engineering firm, was founded in 2002. California-based IT services firm UST said the acquisition and the integration of Mobilecomm's more than 1,300 employees will "significantly strengthen" its telecommunications practice and position it to continue its growth in the sector.
-
Coppell-based Tempest, a portfolio company of Pfingsten Partners and a leading player in the telecom industry, said Joe Hart will work to position the company for continued success and growth.
-
Farmers Branch-based Craftable said the strategic investment further enhances its position "at the forefront of cutting-edge technology shaping the hospitality industry." Craftable founder Samuel Zats launched the startup in 2014 after watching his friends in restaurant management struggle to keep up with their businesses "by constantly taking important notes on pen and paper."
