DriveNets raises $410 million in funding round led by Bessemer Venture Partners and Atreides Management, with AMD joining as new investor

DriveNets, an Israeli networking software firm founded in 2015, raised $410 million in its latest funding round, bringing total capital raised to $1 billion. New investors AMD and Red Dot Capital participated alongside existing investors Pitango and D1 Capital Partners.

DriveNets provides software that allows telecommunications operators and data centers to build and manage networks using standard, off-the-shelf hardware instead of costly proprietary systems. Its technology supports high-speed connectivity and AI workloads.

CEO Ido Susan said the company would use proceeds to meet surging demand for large-scale AI infrastructure. DriveNets' partners include Broadcom, Fujitsu, and Wipro.