May 22, 2023
DriveNets Scores $208 Million in Funding at a Whopping $1 Billion Valuation

https://techcrunch.com/2022/08/17/drivenets-connects-with-262m-as-demand-booms-for-its-cloud-based-alternative-to-network-routers/

DriveNets Snaps Up $208 Million in Funding at a $1 Billion Valuation – this is news that is sure to make waves in the tech world. DriveNets, a networking software provider, has recently secured a massive round of funding, bringing their total valuation to a whopping $1 billion. This is an incredible achievement and shows just how far the company has come in a short period of time. It also marks a major milestone for the company, as they look to expand its reach and continue to innovate in the networking software space.

The networking startup has now raised $325 million to date

DriveNets, a networking startup based in Israel, has recently secured $208 million in funding at a $1 billion valuation. This brings the total amount of funds raised by the company to $325 million, making it one of the largest venture capital rounds raised by a networking company in recent years.
The funds were secured from a range of investors, including SoftBank, Viola Ventures, Lightspeed Venture Partners, and others. These new investors join the existing roster of investors such as Bessemer Venture Partners, GGV Capital, and Comcast Ventures.
DriveNets was founded in 2013 by Ido Susan and Hillel Kobrinsky and has been developing software to manage and monitor network traffic across a range of applications. The software developed by DriveNets can be used to reduce network costs and increase network capacity. The company has customers from the telecommunications, cable, satellite, and enterprise industries.
The new funding will be used by DriveNets to expand its sales and marketing efforts, as well as further develop its product offerings. With this funding, DriveNets is now one of the most heavily funded networking companies in the world.

The company plans to use the new funding to expand its sales and marketing efforts

DriveNets, the networking startup, recently secured $208 million in funding at a $1 billion valuation. The company now has a total of $325 million raised to date. According to CEO Ido Susan, the new funding will be used to expand the company’s sales and marketing efforts, enabling them to reach a broader customer base.
The software developed by DriveNets is used to manage and monitor network traffic, helping companies better analyze their networks, create higher levels of redundancy, and deliver more reliable services to customers. With its innovative technology, DriveNets has established itself as a leader in the industry.
The expanded sales and marketing efforts are expected to open up new opportunities for the company, allowing them to reach potential customers that have yet to experience DriveNets’ revolutionary approach. With this additional funding, DriveNets is positioned to take its offering to the next level and become an even more dominant force in the networking industry.

DriveNets has developed software that can be used to manage and monitor network traffic

DriveNets Network Operating System (NOS) is a comprehensive, cloud-native software suite that helps to build and manage service provider networks. It provides an integrated platform for orchestrating and automating the end-to-end lifecycle of the network, from initial provisioning and ongoing configuration to service assurance. The software is designed to be cost-effective, highly reliable, and easily scalable.
Using DriveNets NOS, service providers can quickly deploy, configure, and maintain large-scale networks across multiple sites, including central offices and remote locations. With advanced real-time analytics and automated fault management capabilities, service providers can quickly detect and resolve potential issues. This reduces the time and cost of manual operations, leading to improved customer satisfaction.
DriveNets’ NOS platform also provides unprecedented visibility into traffic flows and usage patterns, allowing service providers to optimize their networks to deliver better performance. Additionally, the platform enables service providers to add new services quickly and efficiently, with no need for additional hardware or proprietary software.
In short, DriveNets NOS enables service providers to dramatically reduce their operational costs while improving customer experience. With the funding recently raised, DriveNets will be able to further develop its platform and expand its presence in the industry.

The company was founded in 2013 by Ido Susan and Hillel Kobrinsky

DriveNets, the networking startup that recently raised $208 million in funding at a $1 billion valuation, was founded in 2013 by Ido Susan and Hillel Kobrinsky. Prior to starting DriveNets, both Ido and Hillel had significant experience in the telecom industry. Ido worked at Cisco Systems for seven years, developing software for mobile internet solutions, and Hillel was an executive with Amdocs, a software provider for communication and media companies.
The two were driven by the idea that the existing network infrastructure was too rigid to meet the ever-changing needs of customers, so they sought to create a more agile system using the software. This concept eventually became the foundation for DriveNets’ groundbreaking Network Cloud platform, which enables customers to manage their networks more efficiently and cost-effectively.
Since its inception, DriveNets has continued to develop new and innovative products that are helping to revolutionize the telecommunications industry. With its recent funding round, the company is now well-positioned to continue on its path of growth and innovation.

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