The Samsung Ventures-backed cloud management software provider has raised series B funding in a round that roughly doubled its valuation to over $1bn.
DriveNets, an Israel-based cloud networking technology provider backed by electronics manufacturer Samsung, secured $208m in series B funding yesterday, valuing it at more than $1bn.
Investment firm D1 Capital Partners led the round, which also featured Atreides Management, VC firms Bessemer Venture Partners (BVP) and Pitango Growth.
Founded in 2015, DriveNets has built network management software that enables cloud and telecommunications service operators to improve their network capacities.
The company’s lead product, DriveNets Network Cloud, helps virtualise networks and compute…
