Mavenir, the Richardson-based network software provider, has closed a $100 million capital raise that will enable the digitization of telco networks with cloud-native applications that include IMS, Converged Packet Core, and Open RAN.
The company—which is building the future of networks with cloud-native solutions that run on any cloud—said the funding comes on the heels of its successful $250 million fund raise in 2022.
“This new capital will allow us to accelerate our capabilities in automation, sustainability, and use of AI as we enable our customers to efficiently deploy and operate Open RAN based end-to-end cloud-native networks.” Mavenir President and CEO Pardeep Kohli said in a statement. “Our unique strategy incorporates best practices from the hyperscale, cloud and IT industries, to transform how the world connects and builds the future of networks.”
Fundraising round was anchored by Siris
The new round was anchored by Siris, a leading technology focused private equity firm and Mavenir’s largest equity holder, along with investment from two highly strategic ecosystem partners.
“Importantly, this investment enables Mavenir to further scale its business and maintain its leadership in Open RAN and 5G transformation,” Hubert de Pesquidoux, a Siris executive partner and executive chairman of Mavenir, said in a statement. “We firmly believe in the automated networks of the future that are cloud-native, AI-native and Green-native, and we are confident that Mavenir’s innovations are essential in driving that evolution.”
Mavenir is pioneering advanced technology, focusing on the vision of a single, software-based automated network that runs on any cloud.
As the industry’s only end-to-end, cloud-native network software provider, the company is accelerating software network transformation for more than 250 communications service providers in more than 120 countries serving more than half of the world’s subscribers.
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