Israeli Networking Company DriveNets Raises $410 Million at $8.5 Billion Valuation

businessvctech 2 posts · 2 accounts

DriveNets, an Israeli networking company, raised $410 million in a Series D financing led by Bessemer and Atreides, valuing the company at $8.5 billion.

The round brings DriveNets' total funding to about $1 billion. The company said it is cash-flow positive and has more than $1 billion in backlog as AI demand accelerates.

From the sources (2 posts)

@techmeme

Israeli networking company DriveNets raised a $410M Series D led by Bessemer and Atreides at an $8.5B valuation, taking its total funding to ~$1B (@meirorbach / CTech) (Visit Techmeme dot com for the link and full context!)

@calcalistech

.@drivenets raises $410 million as AI boom pushes valuation to $8.5 billion. The Israeli networking company says it is cash-flow positive with over $1B in backlog as AI demand accelerates.

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