US-based mobile networking service Affirmed Networks has raised $38m in a funding round that included Qualcomm Ventures, the corporate venturing unit of semiconductor technology manufacturer Qualcomm.
The round was led by investment firm Centerview Capital Technology and included Eastward Capital Partners and unnamed existing shareholders.
Affirmed has created virtualised and cloud-native network software that helps mobile network operators manage, monetise and deploy 3G, 4G, 5G and wifi mobile services.
The company plans to use the capital to invest in product development, expand its customer base and create 5G network services.
Quinn Li, senior vice-president and global head of Qualcomm Ventures, said: “Qualcomm and Affirmed Networks share the goal of unlocking the value of 5G and accelerating its adoption worldwide.
“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.”
Vodafone Ventures and T-Venture, the respective corporate venturing units of mobile phone operators Vodafone and Deutsche Telekom, previously took part in the company’s $51m series C round in 2013.
Bessemer Venture Partners led the series C round, also investing alongside KCK Group, Charles River Ventures, Lightspeed Venture Partners and Matrix Partners.
Affirmed Networks had emerged from stealth in 2012 with $52m in funding from T-Venture, Vodafone Ventures, Matrix, Charles River and Lightspeed.