The Networking software provider DriveNets revealed that it has raised $208 million in a Series B fundraising round, valuing the company at over $1 billion.
The funding will be used by the business to provide service providers and hyperscalers with a completely new method of constructing networks with greater capacity and scale at a far reduced cost.
One of the biggest networks in the world, AT&T, is already using DriveNets Network Cloud as its primary routing solution, proving the size and effectiveness of a fully virtualized, disaggregated network.
Drivenets 208m series
DriveNets will be able to respond to the spike in demand for greater connectivity and scalable infrastructure by expanding into new regions with the help of the funds.
In the 208m funding, the investor D1 Capital Partners took the lead in the round, and Pitango and Bessemer Venture Partners, two previous investors, also made sizable follow-on investments, New investor Atreides Management also invested in the round.
Every element of our life has transformed as a result of the digital revolution. All conventional processes have been changed into dynamic ones by it. One way that the digital revolution has simplified our lives is through cloud computing.
With virtualization technology and scaling up/down to effectively handle greater workloads and give a higher level of security across thousands of computer devices, the cloud enables secure information to transit fast in both ways.
Drivenets 208m 1b lundentechcrunch
Drivenets, a pioneer in network disaggregation technology and cloud-native networking software, raised $208 million in series B funding last year. increasing the value of t to over $1 billion. It demonstrates how the business intends to widen its market.
Communication service providers and cloud providers may now more effectively fulfill rising service demands thanks to DriveNets Network Cloud’s ability to completely virtualize network and computing resources. This is not possible with today’s monolithic routers as per lundentechcrunch.
By incorporating more white boxes into actual network clusters, DriveNets’ software, which operates on ordinary white box hardware, can quickly grow network capacity.
The physical infrastructure can function as a shared resource that supports numerous networks and services thanks to this special disaggregated network paradigm. It increases network profitability by separating network expansion from cost.
Ido Susan, CEO and Co-Founder of DriveNets, stated that “disaggregating the network architecture, as DriveNets has done at AT&T, indicates that DriveNets Network Cloud is transforming the scale and economics of the most advanced networks in the world.”
We have ambitions to disrupt more markets in the future and are thrilled about the prospects the future holds for us. Our objective is to increase the number of top operators and cloud providers we work with and the range of products we offer.”
Imagine what it would be like if network hosting and improvements in cloud computing were combined to be used as the ultimate answer for the expansion of any organization. At first glance, this can seem like a fairy tale, but what if we told you that the process is already underway and the idea has been developed?
There are the Drive Nets now! DriveNets is a company that offers hosting services and builds networks on the cloud for better communication. They are developing something that will offer cloud computing, IoT, flexibility, and 24-hour services to their users.
About DriveNets
A rapidly expanding software startup called DriveNets creates networks that resemble clouds. It presents a completely new method for constructing networks, separating network development from network expense, and boosting network profitability.
Services that Drivenets Offers
Cloud-native network services are supported by DriveNets under a single common infrastructure. DriveNets Network Platform supports the concept of disaggregated core and edge networks by enabling service and cloud providers to construct cloud-like networks and take advantage of this new architecture’s cost, flexibility, and innovation benefits.
In addition, multi-service networks, AT&T core network deployment, and network orchestration are offered via the company’s disaggregated core service. Their system supports integral routing and third-party service instances from core to edge, aligning with the major industry communities aiming to improve network infrastructure.
DriveNets currently offers Core, Aggregation, Peering, Cable, DCI (Data Center Interconnection), and Edge cloud services.
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Conclusion
DriveNets Network Cloud, built on cloud-native software running on common white boxes, is the premier open disaggregated networking solution. It was founded by Ido Susan and Hillel Kobrinsky, two renowned telco entrepreneurs. Recently, it raised $208 million in series B funding last year.
increasing the value of t to over $1 billion At the 21st Annual World Communications Awards, DriveNets received the Leading Light award 2020 for Company of the Year (Private) and “Innovation Award – Vendor.”
FAQs
DriveNets is a company that offers hosting services and builds networks on the cloud for better communication.
DriveNets was established by Ido Susan and Hillel Konbrinsky in December 2015.
They announced raising $110 million in Series A on February 14, 2019.
When they received a whopping $208 million in Series B investment on January 27, 2021.
Core, Aggregation, Peering, Cable, DCI (Data Center Interconnection), and Edge cloud are among the services provided by DriveNets.
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