Mavenir Systems Closes $20.5 Million Series B Funding

Broadband/mobile VoIP technology provider Mavenir Systems has closed its second round of funding totaling $20.5 million. New investor Alloy Ventures led the round with participation from the original Series A investors, Austin Ventures and North Bridge Venture Partners. Mavenir has raised a total of $34 million since October 2005. Mavenir will use the capital to continue its product implementation and testing phases with service providers and partners globally, build its sales and operations teams and pursue research and development activities for its emerging network technology solutions. (release)

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