Mavenir Systems Raises $13.6 Million
Date: Monday , August 02, 2010
Pardeep Kohli founded Mavenir Systems has recently secured $13.6 million in a fourth round of funding from North Bridge Venture Partners, Austin Venture, Alloy Ventures, Greenspring Associates, and Cisco. Mavenir has raised a total of $65 million since its inception in 2005. The company plans to use the funding to attract more top-tier mobile operators. Their current customers include MetroPCS, a provider of no-contract wireless services, and the Wisconsin-based wireless company Cellcom.
Richardson based Mavenir provides mobile convergence applications and solutions to mobile operators. Mavenir’s convergence solutions can quickly deploy and allow mobile operators to offer new voice and messaging services without building new infrastructure. The company enables service continuity across wired and wireless networks, allowing carrier customers to get consistent service on multiple personal devices. With its technologies, a customer can use a single phone number to receive calls on both mobile and landline phones. The company offers solution to route a customer’s call through a wireless network, office PBX system, or 4G, depending on a customer’s physical location.
Mavenir’s Converged Voice and Messaging solutions provide LTE operators with a fast, cost-effective migration path to IP Multimedia Subsystem (IMS), which is a key component for One Voice.
“Our growth potential in a $40 billion mobile infrastructure industry, driven by the entire network transformation to 4G has played a key role in drawing VC interest towards us,” says Pardeep Kohli, President and CEO, Mavenir Systems. The company is gaining traction in the Mobile IMS market and is competing with network and system integrators and legacy network vendors. “But we look at our competitors as potential partners for the next generation solutions offered by Mavenir. We can compete as well as complement them with some new innovative solutions,” explains Kohli. With its 165 member team, the company is aiming high to grab a fair share of the market.