Mobile-Tech Company Affirmed Networks Raises $38M To Chase 5G Future
Affirmed Networks, a mobile systems software company based in Acton, MA, has raised $38 million in a strategic funding round led by Palo Alto-based Centerview Capital Technology to help it expand into more regions around the globe and invest in new products.
The company, founded in 2010, says it develops virtualized and cloud-native network software that helps mobile network providers manage traffic in ways that previously required expensive hardware. Affirmed says it has 100 customers, including top-tier network providers.
“Affirmed has disruptive technology, deep domain expertise and a vision of mobile network transformation that no other company has,” Ned Hooper, Centerview Capital Technology partner, said in a press release. “As 5G networks continue to be deployed, Affirmed has a unique opportunity to help mobile operators create and innovate the revenue-generating services of the future.”
Qualcomm Ventures, Eastward Capital Partners and some of Affirmed’s existing investors joined in the funding round, the company says.
Affirmed says its software is used in deploying 4G networks and is being integrated in some of the latest 5G systems—the latest generation of mobile technology promising faster data speeds and larger bandwidths to accommodate the millions of Internet-connected devices (from thermostats to microwaves, cars, and dog collars) that businesses and consumers will connect to networks in the coming years.
The company raised $51 million in a Series C funding round in 2013 led by Bessemer Venture Partners and joined by KCK Group, Charles River Ventures, Matrix Partners, Lightspeed Venture Partners, T-Venture, and Vodafone Ventures, the company said.
CEO Hassan Ahmed says in a press release the company and its customers are standing “at the edge of a 5G world that promises to transform the way we communicate.”
He added: “From augmented reality to driverless cars, the future is coming into focus today, and we’re more committed than ever to helping mobile service providers deliver that future.”