Mavenir Telecom has secured $100 million worth of capital following its latest fundraising.
The network software provider confirmed it closed its latest capital raise this week, with the money set to support the company's digitization of telco networks with cloud-native applications that include IMS, Converged Packet Core, and Open RAN.
This follows on from a $250m fundraiser secured last year, with $155m raised in October from an unnamed existing investor that has upped their stakes, while it also raised $95 million via public debt in August, to meet surging research and development costs.
Mavenir confirmed that its latest fundraising round was anchored by technology-focused private equity firm Siris, which is also the largest equity holder in the company.
The firm also noted that there was investment from two 'highly strategic ecosystem partners' as well.
“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," said Pardeep Kohli, President and CEO of Mavenir. "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."
Hubert de Pesquidoux, a Siris executive partner and executive chairman of Mavenir, added: “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 has been focusing heavily on Open RAN in recent months, with the company most recently being picked by UK operator Virgin Media O2 for its Open RAN deployment.
As part of the tie-up, Mavenir will provide the operator with an Open virtualized Radio Access Network (Open vRAN) solution for sites on Virgin Media O2’s network.
