DriveNets

DriveNets
Company typePrivate company
IndustryTelecommunications
Founded2015; 10 years ago (2015)[1]
Founders
  • Ido Susan
  • Hillel Kobrinsky
[2]
Headquarters
Ra'anana
,
Israel[3]
Area served
Worldwide
Key people
Ido Susan (CEO)
Hillel Kobrinsky (CSO)[4]
ProductsNetwork operating system, Software-defined networking
Number of employees
450[5]
Websitewww.drivenets.com

DriveNets is a software company, vendor of a network infrastructure platform[6] that runs over a physical infrastructure consisting of white boxes.[7] Founded in 2015 by industry veterans Ido Susan and Hillel Kobrinsky.

History

DriveNets was founded in 2015 by Ido Susan and Hillel Kobrinsky. Susan is the co-founder of Intucell, which he sold to Cisco for $475 million in 2013.[8] Kobrinsky co-founded Interwise, which was acquired by AT&T for $121 million.[9] DriveNets was in a stealth mode[10] and was self-funded until 2019.[11] In 2019, DriveNets raised $110 million in series A round from Bessemer Venture Partners and Pitango Growth,[2] along with John W. Thompson and Stephen J. Luczo.[12] In 2021, DriveNets raised $208 million in series B funding led by D1 Capital Partners with follow-on investments from Bessemer and Pitango and investment by Harel Insurance.[13] In August 2022, DriveNets announced it completed Series C funding of $262 million led by D2 Investments, along with former investors Bessemer, D1 Capital, Pitango and Atreides Management and Harel Insurance.[14] The company's estimated value was $2.5 billion,[15] after raising total sum of $587 million.[16]

The company has 450 employees at offices in Israel, Romania, Japan and USA.[17] The company has about 100 customers, including AT&T [18] and KDDI.[19] Among its partners are Fujitsu, Broadcom Inc.,[20] Itochu Techno-Solutions, Wipro, KGPCo and EPCglobal.[21]

In November 2023, DriveNets joined the Ultra Ethernet Consortium, an industry effort to build optimal Ethernet for high-performance networking.[22][23]

Technologies

DriveNets markets a scalable network operating system (NOS) based on a cloud.[24] The network cloud architecture creates a software routing framework that can grow linearly to a large scale from a centralized cloud.[25] The company leverages Telco-hierarchy cloud design principles such as containerized microservices, shared facilities, and inexpensive white boxes.[26] Another product that the company sells is a network operating system that relies on Ethernet to connect AI-optimized systems in a distributed cluster. The approach applies the Open Compute Project Distributed Disaggregated Chassis architecture, which enables AI clusters to scale at an adequate performance while keeping JCT low. [27]

See also

References

  1. ^ Matt Hamblen (February 15, 2019). DriveNets Pockets $110M to Pave Software Disaggregation Path. SDxCentral.
  2. ^ a b Alex Konrad (February 14, 2019). This Founder Sold A Startup To Cisco For $475 Million. Now He's Raised $110 Million To Take It On. Forbes.
  3. ^ Rickey Ben-David (August 17, 2022). Israeli startup DriveNets secures $262m for cloud networking software. The Times of Israel.
  4. ^ Yasmin Yablonko (February 15, 2019). Israeli telco network co DriveNets raises $110m. Globes.
  5. ^ Meir Orbach (August 17, 2022). DriveNets secures $262 million Series C at over $2.5 billion valuation. Calcalist.
  6. ^ Linda Hardesty (August 17, 2022). DriveNets secures $262M in Series C funding. Fierce Telecom.
  7. ^ Maria Deutscher (August 17, 2022). Networking startup DriveNets raises $262M in new funding. Silicon Angle.
  8. ^ Alyson Shontell (January 23, 2013). Cisco Buys 4-Year-Old Israeli Startup Intucell For Half A Billion Dollars. Business Insider.
  9. ^ Shmulik Shelah (October 1, 2007). AT&T buys Israeli web-conferencing co Interwise. Globes.
  10. ^ Ingrid Lunden (February 14, 2019). DriveNets emerges from stealth with $110M for its cloud-based alternative to network routers. TechCrunch.
  11. ^ (February 15, 2019). Israeli Software Firm DriveNets Raises $110 Million in First Round of Financing. Reuters/ Haaretz.
  12. ^ (July 8, 2019). DriveNets expands financing round to $117m. Globes.
  13. ^ Meir Orbach (January 27, 2021). DriveNets raises $208 million in series B round, attains unicorn status. Calcalist.
  14. ^ Ingrid Lunden (August 17, 2022). DriveNets connects with $262M as demand booms for its cloud-based alternative to network routers. TechCrunch.
  15. ^ (August 18, 2022). DriveNets Hits $2.5 Billion Valuation with $262 Million Raise. Jewish Business News.
  16. ^ Keith Dyer (August 17, 2022). DriveNets nets $262 million VC funding. The Mobile Network.
  17. ^ Idan Ben Tovim (August 17, 2022). No crisis here: This Israeli startup has raised more than a quarter billion dollars. Geektime.
  18. ^ Omri Zerachovitz (September 29, 2020). AT&T deploys DriveNets core routing solution. Globes.
  19. ^ Ruti Levy (August 17, 2022). Valued more than 2 billion dollars, Susan and Kobrinsky DriveNets', raised 262 million dollars in series c funding round. TheMarker.
  20. ^ (August 17, 2022). Israel's DriveNets raises $262 million in new funding round. Reuters.
  21. ^ (August 17, 2022). Israeli networking software co DriveNets raises $262m. Globes.
  22. ^ Buckley, Sean (2023-11-27). "DriveNets becomes a member of the Ultra Ethernet Consortium". Lightwave. Retrieved 2023-12-14.
  23. ^ Shilov, Anton. "Ultra Ethernet Consortium Formed, Plans to Adapt Ethernet for AI and HPC Needs". www.anandtech.com. Retrieved 2023-12-14.
  24. ^ Joe Stanganelli (February 15, 2019). Israeli telecom-software firm DriveNets emerges from stealth with $110M, Fierce Telecom.
  25. ^ (February 1, 2021). Israeli unicorn start-up DriveNets raises $208 million in funding. The Jerusalem Post.
  26. ^ Meir Orbach and Hagar Ravet (April 28, 2020) . 50 Most Promising Israeli Startups 2020 - Covid-19 Edition. Calcalist.
  27. ^ Peter Cohan (June 12, 2023). With 52% Of AT&T’s Traffic, DriveNets Aims At AI Networking. Forbes.