Mavenir secures $100 million in new capital raise with Siris taking the lead

Mavenir secures $100 million in new capital raise with Siris taking the lead

Mavenir, a network software provider, has successfully raised $100 million to support its strategy of digitizing telco networks with cloud-native applications. This total follows last year’s $250 million fundraise.

Pardeep Kohli, the president and CEO of Mavenir, states that the new financial backing will help them to speed up their growth in automation, sustainability and AI usage as they enable their customers to set up and operate Open RAN-powered cloud-native networks.

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, Kohli continues.

Siris, a private equity firm specializing in technology and the biggest equity holder of Mavenir, led the capital raise. Additionally, two ecosystem partners also participated in the raise. Based in West Palm Beach and New York, Siris has over $6 billion in overall capital commitments.

Hubert de Pesquidoux, a Siris executive partner and executive chairman of Mavenir, adds: “Importantly, this investment enables Mavenir to further scale its business and maintain its leadership in Open RAN and 5G transformation. 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 a software-based network provider that specializes in cloud-native technologies and automated networks designed to run within a cloud environment. The company says it has over 250 communications service providers (CSPs) in over 120 countries, representing over 50% of the world’s subscribers, the company says. Virgin Media O2 was announced as a customer in April 2023.

In February, Mavenir made headlines for debuting an intelligence controller based on the Open Radio Access Network concept. Mavenir says its controller can efficiently manage network traffic resources and enable differentiated services using open APIs.

According to a report by market research firm Dell’Oro Group, Open RAN technologies are projected to account for 15 percent to 20 percent of the global RAN market by 2027.

Article Topics

 |   |   |   |   |   | 


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Edge Analysis & Opinion

Featured Company

Edge Market Reports

Explaining Edge Computing

Edge White Papers

Edge Computing Events

Latest News