Mavenir Systems Hits the Public Market

Mavenir Systems, a provider of software-based communications solutions to wireless carriers, priced its IPO at $10 per share and began trading on the NYSE. The company raised about $105 million in VC funding from North Bridge Venture Partners (24.5% pre-IPO stake), Austin Ventures (23.1%), Alloy Ventures (17.1%), August Capital (16.3%) and Cisco (10.9%), among others. Shares closed at $9.55 on their first day of trading.

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