DriveNets, an Israeli networking software company, said on June 1 it raised US$410 million in a round led by Bessemer Venture Partners and Atreides Management to support growing demand for AI infrastructure.

The funding brings the company’s total capital raised to US$1 billion.

AMD and Red Dot Capital joined, while existing investors Pitango and D1 Capital Partners participated. DriveNets did not disclose its valuation.

Founded in 2015, DriveNets sells software for disaggregated networking, which lets telecoms operators and data center operators build and manage networks on standard off-the-shelf, or white-box, hardware instead of proprietary systems.

The company previously raised US$208 million in 2021, when it said its valuation topped US$1 billion, and US$262 million in 2022, when it said the valuation had increased.

DriveNets has cited deployments at AT&T and DIGI in Romania, where it said the platform carries more than 25% of core traffic.

AMD’s investment follows a technical collaboration that validated a reference architecture for AI clusters using AMD Instinct graphics processing units, AMD Pollara network interface cards, and DriveNets software.

🔗 Source: Reuters