April 20, 2024

Omniverse Universe

Future Technology

DriveNets Secures $262M Funding to Develop Future Expertise Options

DriveNets, a pacesetter in cloud-native networking options, introduced it has secured $262 million in a Collection C enterprise capital funding spherical, significantly rising the corporate’s valuation over its January 2021 Collection B spherical.

The funding from this newest spherical of funding can be used to develop future know-how options, pursue new enterprise alternatives, and increase the corporate’s international operations and assist groups to assist rising buyer demand.

The spherical was led by D2 Investments with the participation of DriveNets’ present traders, together with Bessemer Enterprise Companions, Pitango, D1 Capital, Atreides Administration, and Harel Insurance coverage Investments & Monetary Companies.

Robust firm efficiency helps investor confidence

Since its final funding spherical in 2021, DriveNets has gained important market traction. 

 – Rising community visitors operating on the DriveNets’ Community Cloud resolution by 1,000 p.c. 

 – Participating with almost 100 clients and doubled bookings 12 months over 12 months.

 – Establishing key strategic partnerships to hurry up the deployment of next-generation networks worldwide, together with agreements with Itochu Techno-Options Corporation (CTC)EPS GlobalWipro, and KGPCo

 – Rising its total worker base by 30 p.c, considerably increasing its operations and deployment groups, and its international attain.

Ido Susan, DriveNets founder and CEO
DriveNets’ strategy of constructing networks like cloud permits telecom suppliers to reap the benefits of technological efficiencies out there to cloud hyperscalers, comparable to cloud-native software program design and optimum utilization of shared sources throughout a number of companies. This newest spherical of funding demonstrates our traders’ and clients’ confidence in us and can allow us to increase the worth and international operational assist we provide them.

Adam Fisher, Companion at Bessemer Enterprise Companions
DriveNets has demonstrated its skill to maneuver the networking trade ahead and has gained the belief of tier-1 operators. Whereas different resolution suppliers are going through difficult headwinds, DriveNets continues to innovate and execute on its imaginative and prescient to alter the way forward for the networking market.