HomeBusinessOver $1 Billion, Drivenets...

Over $1 Billion, Drivenets Has Closed $208 Million In Financing, Series B Round

Internet service providers (ISPs) require a speedy and dependable method of growing their capacity to serve their clients in order to keep up with the rising demand.

Drivenets has closed $208 million in financing, a Series B round that puts the business at over $1 billion post-money. closed a substantial round of funding thanks to its novel software-based approach to network expansion, After a successful Series B fundraising round, DriveNets is now valued at over $1 billion.

The business provides service providers with software-based routing solutions that may be virtualized as services on a “white box” generic architecture. The company plans to use the capital to increase its global footprint and cater to a wider variety of customers, including carriers and the next generation of massive corporations that stream a lot of media and have their own network clout.

To be sure, the possibility is there, as CEO Ido Susan pointed out: “If you want to supply bandwidth with low latency, if you want to offer outstanding 5G capability, or if you want to host a cloud gaming service, you need to be close to your end customer.”

Drivenets 208m Series 1blundentechcrunch

This Series B  $208 million investment round is being led by D1 Capital Partners. When DriveNets emerged from stealth mode, Bessemer Venture Partners and Pitango had already invested $110 million. New money for DriveNets in 2019 was greater than twice the size of the company’s previous capital round as per lundentechcrunch.

D1 has become an extremely active investor over the past year, placing significant capital into firms that are receiving media attention because of epidemics. Some examples are Warby Parker, Instacart, TransferWise, the Unity game engine, Kazoo for selling cars online, and Bolt for public transportation.

The enormous fundraising round that DriveNets has received is indicative of both the health of the sector as a whole and the company’s proven ability to succeed.

Having AT&T as a customer before this round verified DriveNets’ virtual network solution. Potentially in response to the current climate and the rise in internet activity, other service providers have started looking into DriveNets’ method.

Susan foretold that the internet is growing at a speed of 30-40% annually- long before Covid-19.

While we were approached by incumbent carriers five years ago, they continue to insist that no one else can construct virtual networks. If you’re concerned about whether or not it will work, you should be asking when you can start using it.

Recently, he said, sales have been rising. He went on to remark that the growing popularity of working and learning from afar has prompted calls for improved network infrastructure.

DriveNets’ solution is built on top of a virtualized, scalable, and economical replacement for physical network routers. In addition, a virtualized system is used. Companies with vertically integrated hardware solutions, like Cisco and Juniper Networks, have historically dominated the router industry.

All of these systems are shipped in a large, well-labeled box with the required hardware and software already installed and ready to go.

Susan and co-founder Hillel Kobrinsky’s vision for a white-box, standard-based network architecture is realized in DriveNets’ replacement solution. Susan stated that three companies are currently contracted to provide the company with such containers.

The networking stack of DriveNets OS is managed by the company’s in-house Network Cloud system, therefore these are utilized in tandem with it. Since many different kinds of network services are available, any service provider can automate and tailor their offering with the help of open application programming interfaces.

A virtualized service hosted in Docker containers manages and controls the underlying infrastructure of white boxes and other servers providing these services.

Because of this, white box servers’ capacities can be increased or decreased with no effort. It’s a technique that allows programmers to get the most out of their hardware by isolating software and hardware concerns.

Read More –

Forter Secured $300M At A $3B Valuation To Eliminate Online Retail Fraud
Is Amazon’s New Astro Better Than Alexa On Wheels?
Notable’s Aim Is To Improve AI In Healthcare Sector With a New $100 Million

- A word from our sponsors -


Most Popular

More from Author

5 Valuable benefits of pipe relining solutions 

Many issues relating to broken or deteriorating pipes can be solved...

Investing in Modern Front Doors

Investing in Modern front doors for your home is a great...

Elden Ring PS5 Launch Version Is A Must-Have For Game And Fantasy Fans

Elden Ring is a 2022 action role-playing rpg authored by Bandai...

Fundamental Teen Patti Rules That You Must Follow

Teen Patti is an exciting game, and if you are new...

- A word from our sponsors -


Read Now

5 Valuable benefits of pipe relining solutions 

Many issues relating to broken or deteriorating pipes can be solved in a novel way with pipe relining. It offers a quick and cost-effective alternative to traditional pipe repair methods while saving time and money.  More importantly, it provides an option to replace all old pipes with new...

Investing in Modern Front Doors

Investing in Modern front doors for your home is a great way to make it look new and updated. There are a few different things to consider when buying a door. For instance, you need to consider the materials used to make it, the style of the...

Elden Ring PS5 Launch Version Is A Must-Have For Game And Fantasy Fans

Elden Ring is a 2022 action role-playing rpg authored by Bandai Namco Entertainment and established by FromSoftware. Hidetaka Miyazaki oriented it, and fiction writer George R. R. Martin developed the setting.  On February 25, the version was released for the PlayStation 4, PlayStation 5, Windows, Xbox One, and...

Fundamental Teen Patti Rules That You Must Follow

Teen Patti is an exciting game, and if you are new to the game, you might not be aware of all the important rules and gameplay. Teen Patti is a lot like online poker, but there are some key differences between these two games. If you are...

10 New Collaboration Features Coming to Microsoft Teams

In the absence of real, face-to-face communications, Teams has been the next best thing for many. It’s instant messaging and videoconferencing functionality has been a great help for employees during their day-to-day work over the last few years, with Covid-19 placing restrictions on businesses, and making collaboration...

Jio Launches 5G: Key Details And How To Get Invited For 5G Experience

Reliance Jio has initiated 5G assistance along with a special promotion. Reliance Jio's 5G network services are offered only to welcomed subscribers. If you want to be a client who is invited, you must first learn a few things. Jio will roll out 5G SA. This appears to...

Path Robotics Raised $56M Funding, Through Leading Investor Addition.

Path Robotics, a Columbus-based AI robotics startup, developed a robotic welding system that received $56 million in Series B funding, bringing the total amount invested in the company to $71 million. The round, which was led by Addition, also included return investors Drive Capital, Basis Set, and...

You’ll Never Have to Pay for PDF Editors Again With UPDF!

Nowadays, everything is becoming digitized. We may perform a large portion of our daily tasks on computers, from supermarket shopping to official job. Many of these regular chores call for easily manageable and shareable papers. Out of all the file kinds, PDF appears to be the most...

Google Is Fined 1,337.76 Crores By The CCI For Breaking Rules

The Competition Commission of India (CCI) penalized Google Rs. 1,337.76 crore for mistreating its dominant stance in market segments with its Android mobile operating system (OS), and foisted a slew of main aspects that the business must follow. The authority stated that Android device manufacturers should not be...

WPC2026: Complete Guide on Its Registration, Login, and Password Recovery

The WPC2026 is an online portal that lets you stream live games. They cater primarily to the Filipino public with their selection of popular games, which include cockfighting, but other games are available too. You've probably come across Wpc2026 on the web. If you're interested in learning more...

WPC2028: Complete Guide on WPC2028 Account Setup and Its Dashboard

Online WPC 2028 cockfighting is becoming a new craze in the Philippines, where gaming and wagering content pulls in millions of dollars each day. The centuries-old game has been declining in popularity, but now it's a major industry across the country, attracting the attention of a new...

Tricks to Lower Your Spectrum Internet Bill

Entertainment is the color of life therefore we always try to provide sources of enjoyment for our families. Whether it is about arranging a movie night with friends and family or spending weekends in front of your TV screen, Select TV is the best source to make...