Media Coverage

This Founder Sold A Startup To Cisco For $475 Million. Now He’s Raised $110 Million To Take It On

Media CoverageFebruary 14, 2019

This Founder Sold A Startup To Cisco For $475 Million. Now He’s Raised $110 Million To Take It On

Israeli entrepreneur Ido Susan scored the windfall of a lifetime when he and his cofounder sold their mobile startup Intucell to Cisco for $475 million. Six years later, Susan is reappearing on the startup scene with a company already valued at more than that sum—and an idea that could someday pose an existential threat to his former acquirer.

DriveNets announced on Thursday that it had raised $110 million in Series A funding from Bessemer Venture Partners and Pitango Growth. For Israel-based DriveNets, which was founded in 2015 and has remained in “stealth mode” until now, the funding values the startup at more than $500 million, according to a source familiar with the raise.

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