Mavenir announces $155 million new capital raise to extend the runway to growth
Mavenir, a firm that offers end-to-end, cloud-native mobile software, has raised $155 million in new capital. This raise comes after the company’s August 2022 $95 million add through debt financing and is meant to bolster Mavenir’s growth strategy, the company says. In total, Mavenir has raised $854.6M through eight rounds of funding since its first Series A funding in 2006. Siris, a private equity firm with a tech focus, will remain the majority holder of equity alongside material minority investor Koch Strategic Platforms, which is a subsidiary of Koch Industries.
“Mavenir continues to be an industry leader at the forefront of revolutionizing the mobile network, and this investment will further accelerate the Company’s participation in the massive digital transformation opportunity as the leader in 5G,” said Hubert de Pesquidoux, a Siris executive partner and executive chairman of Mavenir.
Mavenir has also acquired eight organizations since going public in 2013. Most recently, they bought TeleStax, Inc, a Communications Platform as a Service (CPaaS) enablement and application provider in August 2021.
Mavenir recently made headlines for collaborating with EdgeQ, a 5G hardware platform provider, to provide 4G and 5G dual-mode connectivity to small-cell business sectors. The integrated software-defined solution combined the main computer processor, networking, and a shared 4G/5G physical layer. With this solution, businesses could easily move from 4G to 5G connectivity, the companies said.
Mavenir also recently worked with NEC Corporation to deploy a large MIMO antenna on Orange’s 5G standalone experimental network at the Orange Gardens near Paris, France. MIMO technology uses multiple antennas at both the transmitter and receiver in order to improve wireless communication. By having an antenna at each end of a communications circuit, signal strength can be increased, data speed improved and capacity heightened for radio transmissions.
Of the collaboration, Hubert de Pesquidoux, executive chairman of Mavenir said, “Deploying 5G SA mMIMO is a significant milestone in developing Open RAN and transitioning from virtualized to cloudified networks. We are very proud of our continuing collaboration with Orange, NEC and other companies that are proving the potential of the multi-vendor, cloud-native, standards-based approach.”
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Article Topics
cloud | debt financing | Mavenir | O-RAN | telco infrastructure | venture capital | wireless
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