Mavenir, which provides cloud-native software applications for mobile networks, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The company provides a suite of cloud-native software applications for network functionality that allows wireless service providers to meet the needs of their enterprise and consumer customers. Mavenir serves over 250 wireless service providers, including 17 of the 20 largest wireless service providers and the three largest in the US.
The Richardson, TX-based company was founded in 2005 and booked $462 million in revenue for the 12 months ended July 31, 2020. It plans to list on the Nasdaq under the symbol MVNR. Mavenir filed confidentially on October 4, 2019. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, Guggenheim Securities and Macquarie Capital are the joint bookrunners on the deal. No pricing terms were disclosed.
