Mavenir Systems Raises $40M in Fifth Funding Round

Mavenir Systems, a Richardson, Texas-based provider of innovative mobile infrastructure solutions for LTE operators, has raised $40m in its fifth round of funding.

The round was led by new investor August Capital, with participation from North Bridge Venture Partners, Austin Ventures, Alloy Ventures, Greenspring Associates and Cross Creek Capital.
This brings the total amount the company has raised to date to $105m.

Mavenir intends to use the capital to continue to expand into 4G/LTE markets and maintain high level of support services.

Led by president and CEO Pardeep Kohli, the company provides mobile infrastructure solutions to mobile operators looking to deploy LTE communications services based on its carrier-grade mOne™ Convergence platform. It offers a portfolio of convergence applications and solutions to power new Mobile Cloud Services such as Converged Voice solutions for Voice over LTE (VoLTE), Mobile VoIP and Mobility; Converged Messaging solutions for SMS/MMS over LTE, Rich Communications Suite (RCS, RCS-e) and Converged IP Messaging (CPM); and Converged Video solutions provide Mobile Video calling and conferencing.

In conjunction with the funding, Vivek Mehra of August Capital has joined Mavenir’s Board of Directors.

The company currently serves over 120 mobile operators worldwide.

FinSMEs

31/05/2011

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