DriveNets, a Raanana, Israel-based networking software company, raised $208m in Series B funding round.
The round, which brings DriveNets’ valuation to more than $1 billion, was led by new investor D1 Capital Partners with significant follow-on investments from existing investors Bessemer Venture Partners and Pitango. New investor Atreides Management also participated in the round.
The company will use the funds to continue to expand its business reach to new geographies.
Founded in 2016 by Ido Susan and Hillel Kobrinsky, DriveNets is a software company that builds networks like clouds offering communications service providers and cloud providers a new way to build networks, detaching network growth from network cost and increasing network profitability.
DriveNets Network Cloud – an open disaggregated networking solution based on cloud-native software running over standard white boxes – is already deployed as the core routing solution for AT&T, one of the largest networks in the world, demonstrating the scale and efficiency of a fully virtualized, disaggregated network.
DriveNets Network Cloud supports the complete virtualization of network and compute resources, enabling communication service providers and cloud providers to meet increasing service demands efficiently. The software runs over standard white box hardware and can scale network capacity by adding additional white boxes into physical network clusters. This disaggregated network model enables the physical infrastructure to operate as a shared resource that supports multiple networks and services. It detaches network growth from cost, increasing network profitability.