DriveNets Secures $262 Million in Series C  

by Kay Aloha Villamor in August 18th, 2022

DriveNets, a Ra'anana, Israel-based leader in cloud-native networking solutions, announced it has secured $262 million in Series C venture capital, significantly increasing the company's valuation over its January 2021 Series B round.

The round was led by D2 Investments, with the participation of DriveNets’ current investors, including Bessemer Venture Partners, Pitango, D1 Capital, Atreides Management, and Harel Insurance Investments & Financial Services.

This latest round of funding will be used to develop future technology solutions, pursue new business opportunities, and expand the company's global operations and support teams to meet rising customer demand.

DriveNets also recently announced the addition of three industry veterans to its leadership team:

1.      James Morgan joins as Senior Vice President of Sales for Europe.

2.      Ryan Donnelly joins as Senior Vice President of Infrastructure.

3.      John Sweeney joins as Executive Vice President of Sales for the Americas. 

Company: DriveNets Ltd.

Raised: $262.0M

Round: Series C

Funding Month: Aug 2022

Lead Investors: D2 Investments

Additional Investors: Bessemer Venture Partners, Pitango, D1 Capital, Atreides Management, and Harel Insurance Investments & Financial Services

Company Website: https://drivenets.com/

Software Category: Cloud-native Networking Software

About the Company: Founded in 2015 and based in Israel, DriveNets is a leader in cloud-native networking software and network disaggregation solutions. DriveNets offers communications service providers (CSPs) and cloud providers a radical new way to build networks, substantially growing their profitability by changing their technological and economic models. DriveNets’ solution – Network Cloud – adapts the architectural model of the cloud to telco-grade networking. Network Cloud is a cloud-native software that runs over a shared physical infrastructure of standard white boxes, radically simplifying the network’s operations, and offering telco-scale performance and elasticity at a much lower cost.

Source: https://drivenets.com/news-and-events/press-release/drivenets-secures-262-million/


 




 


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