DriveNets, a Ra’Anana, Israel-based networking software company, raised $117M in Series A funding.
Backers included Steve Luczo, chairman of the board of Seagate and its former CEO, Mark McLaughlin, former CEO of Palo Alto Networks, as well as John Thompson, chairman of the board of Microsoft, C4 Ventures, the fund created and led by Pascal Cagni, former GM and VP for Apple EMEIA (2000-2012), Doug Gilstrap, former CEO and COO of global data telecom companies and former head of strategy for Ericsson, and Benny Schnaider, an Israeli entrepreneur with six startup exits to date, two of which were sold to Cisco.
Steve Luczo has also joined DriveNets’ Board of Directors.
The company intends to use the funds to scale its reach.
Founded by Ido Susan and Hillel Kobrinsky, DriveNets provides Communications Service Providers (CSPs) with Network Cloud, a cloud-native software platform that runs over standard white-boxes, simplifying the network’s operational model, offering Telco-scale performance at low cost.
Network Cloud is a fully disaggregated, cloud-native software platform that runs the routing data on carrier-grade white boxes with only two types of white-box building blocks, and the control plane on standard servers. It turns the network into a fully-optimized shared resource that can support many networks, with Telco-scale performance and a more profitable economic model.