Mavenir Systems Raises US$13.6 Million in Series D FundingBy Mavenir Systems, PRNE
Monday, June 28, 2010
Greenspring Associates Joins Existing Investors to Help Scale Mobile Cloud Services
RICHARDSON, Texas, June 29, 2010 - Mavenir Systems, provider of mobile convergence solutions, announced it
has raised US$13.6 million in its fourth round of funding. Investors for this
round include North Bridge Venture Partners, Austin Ventures, Alloy Ventures,
Greenspring Associates and Cisco. Mavenir has raised a total of US$65 million
since October 2005.
"The opportunity for network transformation is upon us. Our core network
innovations power mobile cloud services today," said Pardeep Kohli, President
and CEO of Mavenir Systems. "The funding we're receiving from our investors
is indicative of our strong customer traction, confidence in our solution
offering and ability to deliver. This will allow us to further scale our
operations to reach more Tier 1 mobile operators globally."
Most recently, Mavenir acquired MetroPCS and Cellcom in the USA and
Viettel in Vietnam as customers and was recognized as an innovative leader in
the Mobile IMS market by industry analyst firm Infonetics Research.
Mavenir's innovative convergence solutions enable mobile operators to
offer new services by transforming their core network to power IP based
mobile cloud services. Converged Voice solutions enable rapid delivery of
Mobile VoIP, Voice over LTE, Video, Session Mobility and Femto services.
Converged Messaging solutions deliver cost savings for SMS and MMS delivery
and introduce Rich Communications and multimedia services to monetize 3G and
4G mobile ecosystems. Our innovations, implemented on the Mavenir mOne
Convergence Platform, deliver services to any device by bridging core network
and broadband access generations. Headquartered in Richardson, Texas, Mavenir
has facilities in India, China and Europe. www.mavenir.com.
Contact: Kathrine Dela or Daniel Rhodes Global Results Comms (GRC) +1-949-608-0276 email@example.com
Kathrine Dela or Daniel Rhodes, both of Global Results Comms (GRC), +1-949-608-0276, mavenir at globalresultspr.com, for Mavenir Systems
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