What is DriveNets?
DriveNets is at the forefront of modernizing the technological and economic models for Communications Service Providers (CSPs). The company's core offering, Network Cloud, is a cloud-native software solution built upon a Distributed Disaggregated Chassis (DDS) architecture. This approach leverages standard white-box hardware, enabling CSPs to simplify network operations, enhance flexibility, and reduce costs. By shifting towards a cloud-centric model, DriveNets empowers service providers to achieve greater agility and efficiency in their network deployments, a critical factor in today's rapidly evolving digital economy.
How much funding has DriveNets raised?
DriveNets has raised a total of $587M across 3 funding rounds:
Series A
$117M
Series B
$208M
Series C
$262M
Series A (2019): $117M with participation from Benny Schnaider, Doug Gilstrap, John Thompson, Mark McLaughlin, Steve Luczo, and C4 Ventures
Series B (2021): $208M led by Pitango, Bessemer Venture Partners, Atreides Management, and D1 Capital Partners
Series C (2022): $262M supported by Pitango, D-1 Capital, Harel Insurance Investments & Financial Services, 2 D2 Investments, Atreides Management, and Bessemer Venture Partners
Key Investors in DriveNets
C4 Ventures
C4 Ventures is a venture capital firm that invests in bold founders from Series A, focusing on sectors such as Smart Hardware, Future of Commerce, and the Future of Work. The firm supports a diverse portfolio of innovative companies, including leaders in robotics, quantum computing, and 3D printing.
Pitango
Pitango is a venture capital firm that partners with visionary entrepreneurs and groundbreaking companies, supporting them from stealth mode to maturity. The firm operates through three funds: First, Growth, and HealthTech, focusing on exceptional founding teams.
Bessemer Venture Partners
Bessemer Venture Partners (Bessemer) is a venture capital firm. The firm has offices in San Francisco, Redwood City, New York City, Boston, Israel, and India. It was established in 1911 as Bessemer Securities.
What's next for DriveNets?
With the infusion of $262M in its latest funding round, DriveNets is strategically positioned for accelerated growth and market expansion. This capital injection is expected to fuel further development of its Network Cloud technology, enhance its go-to-market strategies, and strengthen its competitive edge in the CSP sector. The company's focus on a cloud-native, disaggregated network infrastructure aligns with industry trends towards greater automation and virtualization. Investors are likely anticipating DriveNets to capture a significant share of the evolving network services market, driving innovation and operational excellence for its clients.
See full DriveNets company page
