Media Coverage

Israeli telco network co DriveNets raises $110m

Media CoverageFebruary 15, 2019

Israeli telco network co DriveNets raises $110m

Israeli networking software company DriveNets has emerged from stealth and announced a first financing round of $110 million led by Bessemer Venture Partners and Pitango Growth, and with the participation of a number of private investors. The financing round was carried out at a company valuation of more than $500 million, according to sources close to the deal.

Ra’anana-based DriveNets seeks to create a paradigm shift for telecom service provider networks as demand for services soar but customers are not paying more, so profits are shrinking.

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