Affirmed Networks Capitalizes on Market Momentum with Additional $38 Million Funding

ACTON, Mass., Feb. 25, 2019 /PRNewswire/ -- Affirmed Networks, the leader in virtualized mobile networks, announced today that it has raised $38 million in its latest round of funding. This strategic round of funding is led by Centerview Capital Technology and includes wireless industry leader Qualcomm Ventures LLC, Eastward Capital Partners as well as Affirmed's largest existing investors.

The latest round of funding comes at a time when Affirmed is experiencing significant customer growth. Affirmed, which specializes in virtualized and cloud-native network solutions that help mobile network operators (MNOs) create, monetize and deliver 5G-styled services, currently has more than 100 customers around the world, including many Tier 1 and Tier 2 mobile service providers. The new funding will help Affirmed capitalize on its market momentum and bring its network transformation capabilities into more regions around the globe.

"Affirmed has disruptive technology, deep domain expertise and a vision of mobile network transformation that no other company has," said Ned Hooper, Partner at Centerview Capital Technology. "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. We're very excited to be a part of that future by partnering with Affirmed."

Since its founding, Affirmed Networks has grown into a market leader with a global operations team and a worldwide presence. Affirmed's flagship product, the industry's first fully virtualized and cloud-native Evolved Packet Core (EPC) platform, is deployed in many of the world's largest MNOs, and enjoys trials with multiple operators. This includes 5G trials in several countries.

"Qualcomm and Affirmed Networks share the goal of unlocking the value of 5G and accelerating its adoption worldwide," said Quinn Li, Senior Vice President and Global Head of Qualcomm Ventures. "When deployed, 5G will redefine connectivity, computing and the edge cloud for the next decade and Affirmed has a proven ability to help mobile operators quickly adopt and adapt to 5G-ready strategies."

The latest round of funding will enable Affirmed to continue to invest in new products and grow its customer base.  In addition, Affirmed works closely with a number of partners to create joint 5G solutions that adhere to emerging industry standards and help MNO's compete effectively with leading over-the-top (OTT) providers.

"After nearly a decade, Affirmed and its customers now stand at the edge of a 5G world that promises to transform the way we communicate," said Dr. Hassan Ahmed, President and CEO of Affirmed Networks. "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. We're proud to have Centerview, Qualcomm Ventures and all of our investors join us for that journey."

About Affirmed Networks, Inc.
Affirmed Networks has achieved significant attention as its Network Functions Virtualization (NFV) solution has become the standard for the world's top mobile operators. Currently, the company has been deployed in Tier 1 and Tier 2 mobile networks, and is engaged in multiple trials worldwide. For more information, please visit www.affirmednetworks.com.

About Centerview Capital Technology
Centerview Capital Technology, based in Palo Alto, California, is an investment adviser focused on growth capital for the technology industry. Centerview Capital Technology actively partners with leading management teams to build enduring companies including SecureWorks, Sauce Labs, Quantenna Communications and Acquia. The team has extensive technology-sector knowledge, operational expertise and deep industry relationships that can be leveraged to unlock value and propel businesses forward. To learn more about Centerview Capital Technology, visit www.centerviewcapital.com/technology/.

About Qualcomm Ventures
As the Venture Capital investment group of Qualcomm Incorporated, a world leader in next-generation wireless technologies, Qualcomm Ventures has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we're focused on building the connections that bring our mobile future forward. For more information, please visit www.qualcommventures.com.

SOURCE Affirmed Networks

Related Links

http://www.affirmednetworks.com

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