Affirmed Raises $38M for Global, Mobile Expansion
The latest round of funding comes at a time when Affirmed is experiencing significant customer growth. Affirmed, which specializes in virtualized and cloud-native network solutions that help mobile network operators (MNOs) create, monetize and deliver 5G-styled services, currently has more than 100 customers around the world, including many Tier 1 and Tier 2 mobile service providers. The new funding will help Affirmed capitalize on its market momentum and bring its network transformation capabilities into more regions around the globe.
“Affirmed has disruptive technology, deep domain expertise and a vision of mobile network transformation that no other company has,” said Ned Hooper, Partner at Centerview Capital Technology. “As 5G networks continue to be deployed, Affirmed has a unique opportunity to help mobile operators create and innovate the revenue-generating services of the future. We’re very excited to be a part of that future by partnering with Affirmed.”
Since its founding, Affirmed Networks has grown into a market leader with a global operations team and a worldwide presence. Affirmed’s flagship product, the industry’s first fully virtualized and cloud-native Evolved Packet Core (EPC) platform, is deployed in many of the world’s largest MNOs, and enjoys trials with multiple operators. This includes 5G trials in several countries.
“Qualcomm and Affirmed Networks share the goal of unlocking the value of 5G and accelerating its adoption worldwide,” said Quinn Li, Senior Vice President and Global Head of Qualcomm Ventures. “When deployed, 5G will redefine connectivity, computing and the edge cloud for the next decade and Affirmed has a proven ability to help mobile operators quickly adopt and adapt to 5G-ready strategies.”
The latest round of funding will enable Affirmed to continue to invest in new products and grow its customer base. In addition, Affirmed works closely with a number of partners to create joint 5G solutions that adhere to emerging industry standards and help MNO’s compete effectively with leading over-the-top (OTT) providers.