DriveNets, a Ra’Anana, Israel-based networking software company, emerged from stealth and announced a first round of financing of $110M.
The round was led by Bessemer Venture Partners and Pitango Growth, with participation from a number of private investors. In conjunction with the funding, Aaron Mankovski, Managing General Partner at Pitango Growth, joined DriveNets’ Board of Directors.
The company intends to use the funds to continue to develop its solutions.
Founded in late 2015 by Ido Susan and Hillel Kobrinsky, DriveNets provides Communications Service Providers (CSPs) with a networking software platform to re-sync costs with revenue, capture opportunities and migrate to web-scale networking. Its Network Cloud simplifies network operations, as it can create any network function from the same software stack and only two generic hardware building blocks. Since the entire infrastructure is software-centric, it accelerates new service rollouts at full network scale.
The company has 150 employees and plans to expand to 200 staff members by the end of the year.