Mavenir Secures $100M in Funding to Boost AI in Cloud-Based Telecoms Services

Telecoms company Mavenir has secured $100 million in funding to expand its cloud-based operations and integrate AI tools into its services. The move comes as traditional telecoms equipment is replaced by software operating in the cloud, which is more flexible and cost-effective. Mavenir is among the wave of firms, including DriveNets and Amazon Web Services, providing cloud-based services for telecoms firms seeking to cut costs. The company already has more than 250 service provider and enterprise clients in 120 countries. The latest funding round includes private equity firm Siris, Koch and Pendrell. The company is focused on Open Radio Access Networks and other services for 5G.