Israeli Software Firm DriveNets Raises $a hundred and ten Million in First Round of Financing

Israeli networking software program agency DriveNets said on Thursday it raised $one hundred ten million in its first spherical of financing led with the aid of Bessemer Venture Partners and Israel’s Pitango Growth, with the participation of several personal buyers.

The new financing will assist the corporation to amplify its product portfolio and penetrate new markets, it said.
DriveNets said its software program lets in verbal exchange service vendors to address growing demand without sacrificing profitability. Bringing networking to the cloud can accelerate new provider rollouts, it stated.

DriveNets became based in past due 2015 through Ido Susan and Hillel Kobrinsky and has been self-funded till now.

It did its first foremost settlement in 2017 with a pinnacle North American provider company and has due to the fact that recorded tens of thousands and thousands of dollars in revenue. The organization has 150 employees and plans to make bigger to 200 by means of the end of the 12 months.

Susan co-based Intucell, which was received by means of Cisco for $475 million while Kobrinsky founded Interwise, which turned into obtained with the aid of AT&T for $121 million.

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