In a press release, Richardson-based Ranzure Networks announced that they completed a Series A funding of $13 million dollars, co-led by LiveOak Venture Partners and Mitel. Ranzure plans to use the funding to further its product and solutions development, and build a sales and operations team for their increasing network technology solutions.
As part of Mitel’s investment, Ranzure will license Mitel’s mobile technology in the area of Evolved Packet Core, which provides voice and video abilities on mobile services such as voice over LTE or voice over Wi-Fi.
As part of LiveOak’s agreement, Venu Shamapant, the co-founder and General Partner of LiveOak Venture Partners, will join Ranzure’s board of directors.
“I have partnered with Pardeep twice before and am excited to be working with him for a third time,” says Shamapant. “Having backed Pardeep previously through Spatial Wireless and Mavenir Systems for large disruptions in the wireless infrastructure industry, the General Partners of LiveOak are confident in the company he will build and the solutions the Ranzure team will craft. Radio Access Network (RAN) is the largest piece of wireless infrastructure and is ripe for disruption through the application of cloud based virtualization technologies. We strive to back the best entrepreneurs in Texas, and Pardeep is the perfect example of our investment thesis at work.”
Ranzure was founded by Pardeep Kohli, President and CEO, Ashok Khuntia, Executive VP of Engineering, and Erik Boch, CTO. Ranzure’s founders have experience in virtualized LTE core networks and Radio Access technologies. Their company’s focus is to pave the way for incredibly fast 5G networks.
“Network densification, IoT, and new spectrum availability will enable applications and devices that will fundamentally transform the way we live and interact with our surroundings,” said Kohli. “The next generation mobile networks are expected to handle much more data volume, connect exponentially more devices, significantly reduce latency, and bring new levels of reliability. A flexible Radio Access Network is a key cornerstone for this evolution. Ranzure will bring flexible, virtualized, cloud-based 4G/5G RAN solutions to address the evolving market needs.”
Mitel is a global market leader in enterprise and mobile communications, servicing more than 60 million business users in over 100 countries, and 130 mobile service providers. Their objective is to help businesses and mobile carriers connect, collaborate, and provide innovative services to their customers.
LiveOak is a $109M Fund based in Austin, TX, founded by Ben Scott, Krishna Srinivasan, and Venu Shamapant. LiveOak is a full lifecycle investor, primarily focused on based technology companies. They have over 16 years of successful early stage investing in Texas, helping entrepreneurs create industry-leading companies.