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 in amplifying its product portfolio and penetrating 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 2015 through Ido Susan and Hillel Kobrinsky and has been self-funded until now. It did its first, foremost settlement in 2017 with a pinnacle North American provider company. It had since recorded tens of thousands and thousands of dollars in revenue. The organization has 150 employees and plans to make it bigger to 200 utilizing the end of the 12 months. Susan co-based Intucell, which was received using 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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