Mavenir bucks downturn by nearing financing goal - Dallas Business Journal:

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million in outside financing, according to a recent filinvg with thefederal . The company had raised aboutf $17.5 million from as many as eight investorss as of the Halloween The document does not disclose who put in how but backers of the businessinclude California’sz , Massachusetts’ and . Attempts to secure comment from Mavenir executivew werenot successful. Companies in fundraising mode typically shun the press for fear of earnintthe SEC’s wrath. In interviewd in November 2007, Mavenir officials told the Dallad Business Journal that they had raised a totalof $33.4 milliomn since the business’ inceptioh in early 2005.
At the time, Mavenirf had about 125 employees spread betweenj its Richardson headquartersand research-and-development centers in Chinqa and India. Executives of the privatelu held business did not discloseits revenue. The compan y sells a line of gear that it says allows any type of entertainmentr or communications service to be deliverec over any typeof network, regardless of what type of devices an end user has.
For instance, Mavenir technology would make it possiblr for a consumer to take a call on a land line switch the call to hiscell phone, and then switch it back to the land The technology, which consumersa will never see, also would permigt consumers to have a single number for their wireless and home phones. Mavenifr has not announced the names of any customerds ofits system, although that is not unusuall for a relatively small company in the world of telecommunications, in whicb large carriers and equipment vendors often want the namew of their suppliers kept quiet.
Joe principal analyst in the IP servicee infrastructure practice at the Virginia market researchu firmCurrent Analysis, says Mavenir’s technologt is cutting edge — so much so that the company’s offerinyg may have come out before the market was ready for it. “They sort of regroupedd a bit,” he says. “Like many companies, they’re lookinyg at the assets they have, and are tryinb to figure out what they can offer now that is more palatabl e to the needsof (telecom) operators.” Companiesd sometimes sell technology that is too far ahead of the and the market never catchew up to them in McGarvey says.
“Mavenir won’t fall into that trap. With this additional funding, it looks like their timin g will improve alittle bit.” There aren’f any companies that sell technologgy with the same capabilities as Mavenir’s, according to McGarvey. He cites two relatively small companiesx — Richardson’s and Israel’s Convergin — as firmsw that vie with Mavenir in some areas for Jeff Kagan, an independent wireless and telecom analyst in the Atlantq area, says that thus far, most major wireless carriers seem to be doing OK. “Ford competitive reasons, they must continue investing in the he says.
“Whether they invest in this withthis company, I can’ty say.”