Mavenir Systems Raises $17.5 Million in Series C Funding

RICHARDSON, Texas, Dec. 17 /PRNewswire/ — Mavenir Systems, provider of
next generation mobile convergence applications and solutions, announced it
has raised $17.5 Million in its third round of funding. A new investor led
the round with participation from all of the Series A and B investors, Austin
Ventures, North Bridge Venture Partners and Alloy Ventures. Mavenir has
raised a total of $51 Million since October 2005.

“Mavenir has had tremendous success as evidenced by the trials and
deployments with significant Tier 1 Service Providers in North America and
Europe,” said Ben Scott, Chairman of the Board and former CEO of mobile
provider PrimeCo Personal Communications. “We all feel strongly that Mavenir
is well positioned to take advantage of the Fixed Mobile Convergence that is
rippling through the communications market.”

“Service Providers today are facing a challenging market with a myriad of
technology silos. Our convergence solutions accelerate transition to an
all-IP service core — the right solution at the right time. Grabbing market
share with new mobile services, generating revenues quickly and increasing
customer loyalty is a key value proposition that is generating demand for our
solutions,” said Pardeep Kohli, President and CEO of Mavenir Systems.

“This funding will enable us to broaden our presence in the market and
execute on our deliverables into the global communications market. We will
continue to build an ecosystem of partners to compete effectively in the
marketplace,” added Kohli.

Mavenir intends to use the funds to expand its product offering, continue
the product implementation and deployments with service providers and extend
Mavenir’s geographic coverage and customer support.

About Mavenir:

Mavenir’s convergence solutions enable mobile operators to offer new and
enhanced services and applications, delivering next generation convergence
solutions to any device, by bridging core network and broadband access
generations.

Converged Messaging Solutions with a next generation core that provides
enhanced messaging services for mobile subscribers with an OMA/IMS-based
Presence and Instant Messaging.

Converged Voice Solutions that provide VoIP services without having to
implement an IP Core. No major back-end integration to billing system or
switch required and seamless evolution to LTE. The IMS Centralized Services
provides a smooth transition of legacy MSC networks to IMS-based all IP core
network, offering lower costs and enhanced services.

Headquartered in Richardson, Texas, Mavenir has sales, business
development and R&D facilities in India, China and Europe, and operations in
India.

http://www.mavenir.com

SOURCE Mavenir Systems