DRIVENETS: RAISES $208M IN SERIES B FUNDING

DRIVENETS: RAISES $208M IN SERIES B FUNDING

• DriveNets is a Raanana company, an Israel-based software for networking that has received $208 million from its Series B financing round.
• The deal, which boosts DriveNet’s valuation to over 1 billion dollars, was facilitated by a new investor D1 Capital Partners.
• The company will also use the money to expand its reach to new regions.
• DriveNets is a company in the software industry that builds cloud-like networks providing communications cloud service providers and service providers a brand new method to create networks.
• DriveNets Network Cloud supports the complete virtualization of the network and computes resources, making it possible for communication service providers.
• The software runs on the standard white box hardware and can increase the network’s capacity by adding more white boxes to a physical cluster.

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