Media Coverage

DriveNets wants software to replace networking hardware, raises $208 million

Media CoverageJanuary 27, 2021

DriveNets wants software to replace networking hardware, raises $208 million

As digital transformation takes on greater urgency during the pandemic, enterprises looking to accelerate their plans often encounter cumbersome and expensive networking costs. Now an Israeli startup working with telecommunications providers is hoping to solve the problem with software that eliminates the need for much of the traditional hardware.

DriveNets today announced it has raised $208 million, sending its valuation over $1 billion. D1 Capital Partners led the round, which included new investor Atreides Management and previous investors like Bessemer Venture Partners and Pitango.

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