|By Business Wire||
|June 5, 2013 08:32 AM EDT||
Affirmed Networks™, a technology leader modernizing how mobile networks are architected, deployed, and monetized, announced it has raised $51M in a Series C round of funding led by Bessemer Venture Partners and joined by KCK Group. Affirmed Networks’ current investors also participated in this round, which includes top tier venture capital and strategic investors. The funding was spurred by substantial operator demand for the company’s market-leading network function virtualization solutions, including the Affirmed Mobile Content Cloud™. It strongly positions the company to support multiple deployments and numerous trials throughout the world while expanding its carrier-grade virtualization solutions.
Today’s mobile Internet experience is much richer than ever before. As users consume more streaming video content, transact commerce, and engage with each other through social media, mobile networks require a major overhaul to maximize their revenue potential. Affirmed Networks’ solutions transform mobile networks from a legacy access architecture to intelligent, virtualized networks, dramatically shifting the operators’ economics and enabling them to deliver compelling new services that their customers demand at Internet speeds.
“The mobile explosion has led to unprecedented growth in data use, creating a serious issue for operators around the globe that are forced to deal with this data crunch overwhelming their cellular networks. Affirmed Networks alleviates the network stress by providing vital solutions for the biggest challenges these operators face when deploying today’s mobile networks: network function virtualization and service orchestration,” said Bob Goodman, partner at Bessemer Venture Partners. “These are problems every operator faces and – in my opinion – every operator could benefit from working with Affirmed Networks.”
Mr. Goodman will join the Affirmed Networks’ board of directors, which already includes Tim Barrows of Matrix Partners, Jon Auerbach of Charles River Ventures, and Hassan Ahmed, Chairman and CEO of Affirmed Networks.
“Our mobile lives bring about an unprecedented disruption for operators in which networks and business models will undergo major overhaul,” stated Dr. Ahmed. “The Affirmed team is creating solutions to transform the wireless world and enable operators to capitalize on this expanding opportunity. We are grateful to our investors for their deep commitment to our mission as we achieve increased market adoption of our solutions.”
Affirmed Networks’ generally available solutions – the Affirmed Mobile Content Cloud, AN3000®, and Acuitas Service Management System™ – are poised to significantly transform and advance the state of mobile data networks with value-added services, high performance, excellent scalability, high resiliency, and content-delivery capabilities that far surpass incumbent vendor solutions.
“Leveraging the capabilities of its unique service orchestration technology, the Affirmed Mobile Content Cloud and the AN3000 unveil new avenues for service creation and monetization for mobile operators. By offering scope for highly personalized services the per-user experience offered by Affirmed Networks significantly enhances customer retention possibilities for the mobile operator,” said Frost & Sullivan Sr. Research Analyst Swapnadeep Nayak.
Affirmed Networks was founded in April 2010 with the purpose of bringing intelligence and innovation to mobile networks. In three years, the company has created a global workforce with employees located in the U.S., U.K., Canada, Germany, Switzerland, Netherlands, France, Slovenia, Dubai, Japan, and South Korea.
About Affirmed Networks, Inc.
Affirmed Networks™ is transforming and advancing intelligence in mobile data networks. The company’s solution bundles gateway functionality with rich application and content delivery services into an industry-leading, virtualized solution. For more information, please visit: www.affirmednetworks.com
About Bessemer Venture Partners
With $4 billion under active management, Bessemer Venture Partners (BVP) is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, Mumbai, Bangalore and Herzliya, Israel. BVP delivers a broad platform in venture capital spanning industries, geographies, and stages of company growth. From Staples to Skype, VeriSign to Yelp, LinkedIn to Pinterest, BVP has helped incubate and support companies that have anchored significant shifts in the economy. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe, and Asia. See www.bvp.com or follow BVP on Twitter @bessemervp.