What is DRIVENETS?
DriveNets is revolutionizing the telecommunications infrastructure sector by offering a cloud-native software solution, Network Cloud, built on a Distributed Disaggregated Chassis (DDS) model. This innovative approach leverages standard white-box hardware, simplifying network operations and enabling Communications Service Providers (CSPs) to adopt more agile and cost-effective network architectures. The company's technology is designed to address the evolving demands of modern networks, facilitating greater efficiency and scalability.
How much funding has DRIVENETS raised?
DRIVENETS has raised a total of $1B across 4 funding rounds:
Series A
$117M
Series B
$208M
Series C
$262M
Other Financing Round
$410M
Series A (2019): $117M with participation from Doug Gilstrap, C4 Ventures, Mark McLaughlin, John Thompson, Steve Luczo, and Benny Schnaider
Series B (2021): $208M led by Pitango, D1 Capital Partners, Bessemer Venture Partners, and Atreides Management
Series C (2022): $262M supported by Bessemer Venture Partners, Harel Insurance Investments & Financial Services, Pitango, D-1 Capital, 2 D2 Investments, and Atreides Management
Other Financing Round (2026): $410M featuring AMD, Pitango Venture Capital, Bessemer Venture Partners, Atreides Management, and Red Dot Capital Partners
Key Investors in DRIVENETS
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.
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.
Bessemer Venture Partners
Bessemer Venture Partners (Bessemer) is a venture capital firm with 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 its recent major strategic investment, DriveNets is poised for accelerated growth and further innovation in the CSP market. The substantial capital infusion is expected to fuel the expansion of its Network Cloud solution, enhance its technological capabilities, and broaden its market reach. This funding round signifies a critical phase for the company, enabling it to solidify its position as a leader in network transformation and capitalize on emerging opportunities within the telecommunications industry.
See full DRIVENETS company page
