Mobile convergence services provider Mavenir Systems has raised USD 40 million in its fifth round of funding. New investor August Capital led this round, with North Bridge Venture Partners, Austin Ventures, Alloy Ventures, Greenspring Associates and Cross Creek Capital joining in as new investors. Overall, Mavenir has raised a total of USD 105 million since October 2005. Mavenir will use the proceeds from this last funding round to fuel its continued expansion into 4G/LTE markets, as well as ensure support services for its customer base which now exceeds 120 mobile operators worldwide. In connection to the fifth investment round, Vivek Mehra of August Capital joins Mavenir's board of directors.
