Media CoverageFebruary 27, 2021
Virtualized telco router specialist DriveNets has raised $208 million in a Series B funding round that values the Ra’anana, Israel-based company at more than $1 billion.
The company, which boasts AT&T as its marquee customer, will use the new funding to further develop its software stack and help it to scale up and branch out into new geographic markets. The round was led by new investor D1 Capital Partners, with existing backers Bessemer Venture Partners and Pitango also participating with “significant follow-on investments.” In addition, Atreides Management has become a new investor.
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