DriveNets increases $110 mn to extend telecom networking biz

DriveNets, a telecom networking software business enterprise based in Israel, has raised $110 million in its first spherical of financing led by way of Bessemer Venture Partners and Israel’s Pitango Growth, with the participation of several private traders.
The new financing will assist the employer to expand its product portfolio and penetrate new markets.

DriveNets stated its software lets in telecom conversation provider carriers to handle calls for without sacrificing profitability. Bringing networking to the cloud can boost up new carrier rollouts.

DriveNets’ Network Cloud solution simplifies community operations, as it may create any community feature from the identical software program stack and only regular hardware building blocks.

DriveNets’ software runs over low-price white box hardware that may cope with any routing use case, helping CSPs open up and commoditize their bodily infrastructure.

DriveNets changed into based in past due 2015 by way of Ido Susan and Hillel Kobrinsky and has been self-funded until now.

DriveNets’ co-founder and CEO, Ido Susan stated: “We’ve created technology in an effort to permit carrier vendors to address their biggest challenges like the exponential ability growth, 5G deployments and coffee-latency AI packages.”

It finished its first predominant contract in 2017 with a top North American service issuer and has considering that recorded tens of millions of dollars in revenue. The business enterprise has one hundred fifty employees and plans to amplify to 200 by way of the end of the yr.

I do Susan co-based Intucell, which became received by means of enterprise networking organization Cisco for $475 million while Hillel Kobrinsky based Interwise, which turned into obtained by means of AT&T for $121 million. Intucell invented the Self Optimizing Network (SON). Kobrinsky is an internet conferencing specialist.