The story
Mavenir Systems was founded in 2005, and completed a $17.5 million round of funding in 2008, another for $13.5 million in 2010, and another for $40 million in 2011. In 2013 Mavenir Systems underwent an IPO and listed on NYSE, raising $44.5 million. In 2015, Mavenir Systems was acquired by Mitel Networks Corporation for $560 million, then rebranded to Mitel Mobile and sold to Xura for $350 million.
In 2016, Pardeeep Kohli and Ashok Khuntia founded Ranzure. Ranzure was acquired by Xura in 2016, before Xura, Ranzure and Mitel Mobile were merged and rebranded as Mavenir in 2017.
Between 2017 and 2020, Mavenir acquired Brocade’s vEPC technology (2017), Aquto (2018), Argyle Data (2018), and, in 2020, ip.access after which the company established an Open RAN Centre of Innovation in Cambridge, UK.
On 6 October 2020, Mavenir announced that it had filed a registration statement for an initial public offering (IPO) of ordinary shares on Nasdaq. Due to market volatility in the run-up to the 2020 US elections the company postponed the IPO on 28 October but stated that it would keep market conditions under review in the following months.
In 2021, Mavenir signed an agreement with Koch Strategic Platforms (KSP) for a minority equity investment of $500m.
Recapitalization
In June 2025, Mavenir and controlling shareholder Siris restructured its finances through a recapitalization deal with lenders, eliminating more than $1.3 billion of debt and securing $300 million in new financing. Later in December 2025, Mavenir confirmed a refocus on mobile core software and AI, exiting the manufacture and distribution of physical radio unit (RU) hardware, and realigning into two integrated business units: packet-core, messaging and security; and voice and radio access technologies.
From Wikipedia’s article on Mavenir Systems, Inc., shared under CC BY-SA 4.0.7