Top Ten New Startups
That's the story over at Mavenir Systems Inc. 's headquarters in Richardson, Texas, where the old band from startup IP Mobile is getting back together. IP Mobile was sold to Cisco Systems Inc. (Nasdaq: CSCO) for $425 million in August 2000. Having raised little more than $7 million in funding, the company has built a new team focused on service convergence. (See Mavenir Converges on $13M.)
After 18 months in stealth mode, the company is planning a marketing blitz starting this September, after raising $13.1 million from big name backers Austin Ventures and North Bridge Venture Partners .
North Bridge was one of IP Mobile's backers in 1999 and fancies more of the same kind of return.
The company reckons there's a gap in the market to target service providers that want to deliver their services to any device across any network, but which don't want to deploy point solutions or wait years for for standards-compliant IP Multimedia Subsystem (IMS) technology to become commercially available.
With an experienced management team, more than 50 staff drawn from Cisco, Alcatel (NYSE: ALA; Paris: CGEP:PA), Ericsson AB (Nasdaq: ERIC), Nortel Networks Ltd. , and Qualcomm Inc. (Nasdaq: QCOM) – including Pardeep Kohli, Alcatel's recently departed president of mobile NGN and former CEO of mobile softswitch firm Spatial Wireless, now part of Alcatel – Mavenir has the brains, track record, and backing to be a convergence hit.
Next Page: Brightcove