Mavenir, a leader in Open Radio Access Networks (RAN) and 5G telecoms services, recently raised $100 million in funding to expand its technology and customer base. Mavenir already serves 250 service provider and enterprise customers across 120 countries, covering over half of the world’s mobile subscribers, and plans to use the funding to further develop its capabilities in AI, automation, and sustainability. The funding round was anchored by the investment firm Siris, who also invested in Mavenir’s last funding round of $155 million in October 2022. Koch Venture Capital and Pendrell Ventures are also existing investors in Mavenir.
The company is part of the wave of companies looking to capitalize on the increasingly digital nature of telecommunication networks. Traditionally, carriers managed their networks primarily through physical equipment such as routers, switches, and other costly physical devices. However, with the rise of software and the cloud, carriers now have the opportunity to jump on board with a more flexible and efficient model. Mavenir is enabling telecom companies to achieve this through their Open RAN based end-to-end cloud-native networks.
At the helm of this new investment round is CEO and president Pardeep Kohli. Kohli has been with Mavenir for several years, originally in the company itself, and then reappointed after Mavenir’s roll-up of Mitel and Xura. Through their continued work, Mavenir hopes to transform how the world connects in the future.
Mavenir is not the only contender in this space. Companies such as DriveNets, Arrcus, and even Amazon are also competing for a piece of the pie. However, Mavenir’s focus on AI-native, cloud-native, and green-native networks have placed it in a leading position amongst the many in the telecoms industry.
By investing more into AI technology, Mavenir seek to further expand its customer base and develop more services for its current customers. With the continued backing from both existing and new investors, it could be set to reap the rewards that come with increasing digital transformation in the industry.
