Richardson-based software company Mavenir has announced the closing of a $155 million capital raise, according to a news release. The company has raised $250 million in capital since July 2022 with support from New York-based firm Siris and Kansas-based Koch Strategic Platforms.
The funds will be used for Mavenir's continued investment in growth products.
"With the support of our long-term partners, Siris and KSP and this additional capital, we are well-positioned to execute on our vision of transforming how the world connects and building the future of networks," Pradeep Kohli, president and CEO of Mavenir, said in the release.
Siris and Koch Strategic Platforms will remain the majority equity holders.
"Mavenir continues to be an industry leader at the forefront of revolutionizing the mobile network and this investment will further accelerate the Company’s participation in the massive digital transformation opportunity as the leader in 5G,” Hubert de Pesquidoux, a Siris executive partner and executive chairman of Mavenir, said in the release.
Mavenir was founded in 2017.
In April 2021, Mavenir received $500 million in funding from Koch Strategic Platforms. The move came after the company delayed its IPO which could have been valued it at nearly $2 billion in October 2020. The postponing came "amid market volatility," as said in a statement.
