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DriveNets Raises $110 Million Series A Funding

DriveNets Raises $110 Million Series A Funding
Credit: drivenets.com

Networking software company DriveNets emerged from stealth and completed a $110 million first round of financing led by Bessemer Venture Partners and Pitango Growth, with the participation of private investors.

DriveNets strives to address users’ shrinking profits with its network cloud solution by disconnecting network cost from capacity growth and allowing communication service providers to handle increasing demand without sacrificing profitability.

The network cloud is designed to create any network function from the same software stack and only two generic hardware building blocks. According to the company, since the entire infrastructure is software-centric, its network cloud accelerates new service rollouts at full network scale.