Open RAN vendor Mavenir said it raised $155 million from an existing, unnamed investor in a move the company said will help it better compete with "end-to-end" network equipment suppliers like Ericsson and Nokia.

"For a company like us to succeed, we need to offer an end-to-end package – we need to provide the same level of confidence that operators get with their current vendors," CEO Pardeep Kohli told TelecomTV.

Figure 1: (Source: Mavenir)

Broadly, Mavenir is working to sell both hardware and software – across 2G, 3G, 4G and 5G technologies – to network operators around the world. Already Mavenir has found purchase on the software side of things with products ranging from mobile core to RCS, and it has recently expanded into the hardware side of things with its OpenBeam radios.

Indeed, the $95 million Mavenir raised just a few weeks ago in public debt was primarily to "fund our growth in the radio space, as we expand our R&D and other functions in radio," according to TelecomTV.

Now, with its latest funding round, Mavenir is hoping to put all that work together into a one-stop-shop for its network operator customers. Mavenir's Kohli said the company already counts end-to-end deals in India (to be announced soon) and with Triangle Communications in Montana.

Still open RAN

Importantly, though, Kohli said Mavenir remains squarely on the open RAN path. Such technology promises to allow operators to mix and match products from a variety of vendors due to open, interoperable interfaces among various networking components. That's a change from most of today's wireless networks, which are typically supplied by one vendor via tightly integrated components.

"We can mix and match all of that stuff, but it doesn't look like they're buying from five different vendors because we put it all together," Kohli explained to Mobile World Live.

Kohli said Mavenir remains on track to generate $1 billion in annual revenues by 2023, up from $636 million in 2021. He also said the company expects to hire up to 500 people next year in order to eventually grow to around 6,000 total employees.

Siris Capital Group remains Mavenir's majority owner, though Koch Strategic Platforms took a $500 million minority stake in the company in 2021, shortly after Mavenir canceled plans to conduct an initial public offering (IPO).

Mavenir's recent fundraising comes in stark contrast to recent layoffs at rival Parallel Wireless.

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— Mike Dano, Editorial Director, 5G & Mobile Strategies, Light Reading | @mikeddano