DriveNets wants software to replace networking hardware, raises $208 million
Summary
As digital transformation takes on greater urgency during the pandemic, enterprises looking to accelerate their plans often encounter cumbersome and expensive networking costs. DriveNets CEO and cofounder Ido Susan says telco providers that adopt the company’s software are able to offer better economics to enterprise users, who can then deploy new services for less money. And it speeds up innovation.” Founded in 2016 by Susan and cofounder Hillel Kobrinsky, the company aims to bring the same kind of disruption to networking that is occurring in other sectors, such as storage. The system can retain strong privacy and security so it’s also viable for larger financial institutions or other companies handling particularly sensitive data. DriveNets plans to use the latest funding to continue product development while expanding into new territories and hiring employees to keep up with demand.
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