Mavenir raises $40 Million in Series E Funding
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Santa Clara: U.S.-based Mavenir Systems, the innovator of mobile infrastructure solutions for LTE operators, has raised $40 million in its series E funding. August Capital, the new investor in the firm, lead the funding that included North Bridge Venture Partners, Austin Ventures, Alloy Ventures, Greenspring Associates and Cross Creek Capital who also joined as a new investor. Mavenir offers a complete portfolio of convergence applications and solutions to power new Mobile Cloud Services such as Converged Voice solutions for Voice over LTE, 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 Mobiel Video calling and congerencing, all based on Mavenir's carrier-grade mOne Convergence platform. The firm has raised a sum of $105 million since October 2005. The 4G/LTE market includes over 200 global operators who are investing in LTE with more than 400 million subscribers expected by 2015. The fund will be used to continue the expansion into fast-growing 4G/LTE markets and ensure they maintain the highest level of support services for our increasing customer base, which now exceeds 120 mobile operators worldwide. Shubh Agarwal, VP, Marketing, Mavenir Systems, said, "This is a key investment round that enables Mavenir Systems to make significant strategic growth moves that further strengthen our portfolio, resource and client base in the LTE wireless infrastructure space. Our acquisition of Airwide Solutions increases our global presence and with our combined experience, will instill a greater confidence in our customers as they rely on Mavenir to launch innovative LTE services quickly and cost effectively." Speaking about VC's interest towards funding them, Agarwal said, "Mavenir is supported by Tier 1 VC's who invest in infrastructure solutions that are fueling the transformation of wireless networks to 4G. This is the next market opportunity for growth." The 4G/LTE market includes over 200 global operators who are investing in LTE. Mavenir will continue expansion into fast-growing 4G/LTE markets and ensure to maintain the highest level of support services for their increasing customer base which now exceeds 120 mobile operators worldwide. After acquiring Airwide SOlutions, the head count of the company has increased to more than 400. The funding follows some significant milestones for the firm that demonstrates a strong presence in the market with the win MetroPCS for LTE messaging and recently announced voice and messaging products (VoLTE) that are essential for 4G/LTE wireless networks. With the investment round, Vivek Mehra, General Partner, August Capital, join the company's Board of Directors. "With key customer wins in 4G/LTE deployments, Mavenir Systems has proven itself as an innovative wireless infrastructure player at a time when operators are looking into building smarter networks to keep up with smarter mobile devices," said Mehra.

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