DriveNets Snaps Up $208 Million in Funding, Aims to Change Networking Infrastructure
DriveNets Snaps has just secured $208 million in funding at a $1 billion valuation, making it one of the most sought-after networking companies in the tech world. The company, founded in 2019, is now poised to revolutionize the networking infrastructure industry with its innovative approach. This blog post will explore the implications of this latest funding round and how DriveNets Snaps is set to change the game.
What is DriveNets?
DriveNets is a software-defined networking (SDN) startup that offers networking solutions for service providers, such as internet and mobile network operators. It was founded in 2016 by CEO Ido Susan, CTO Rami Weiman, and VP of Business Development Dima Sirota. The company has developed an advanced SDN platform for service providers to simplify their networks, reduce operational costs and improve efficiency.
DriveNets’ platform offers cloud-native architectures with carrier-grade routing, application delivery, and automation tools. This allows service providers to rapidly build up their networks and deploy services with minimal upfront capital expenditure. It also simplifies the entire network stack by removing legacy protocols and hardware from the equation.
At its core, DriveNets is a software-as-a-service provider, meaning service providers pay an annual subscription fee instead of investing in expensive hardware. This helps to keep costs down and ensures that service providers can easily scale up or down as needed. With its flexible architecture, DriveNets can be deployed across multiple vendors and systems without major changes to existing infrastructure.
How is DriveNets different?
DriveNets is a revolutionary new networking company that is revolutionizing the way networking infrastructure is built and managed. Unlike traditional networking solutions, DriveNets is a software-defined networking platform that provides customers with an open, flexible, and fully-virtualized solution. By deploying the DriveNets Network Cloud, customers are able to benefit from unprecedented scalability and manage their networks in real time with centralized orchestration.
DriveNets also uses an innovative distributed routing architecture, which enables customer networks to be automatically provisioned and easily scaled without any interruption or disruption to service. This architecture allows customers to build high-performance virtual networks quickly, while also saving on capital expenditures. Furthermore, because the system is distributed and there are no central components, it is less vulnerable to attacks and network outages.
Finally, DriveNets enables customers to create custom network functions (CFs) that can run as containers on the same platform. This allows for more rapid development and deployment of applications, including Internet of Things (IoT) applications. In addition, CFs can be deployed anywhere, even across multiple public cloud providers. This offers customers greater control over their networks and the ability to create a hybrid cloud environment to reduce cost and increase flexibility.
The market for networking infrastructure
One of the most popular networking solutions today is software-defined wide-area networking (SD-WAN). This type of network provides an efficient way to connect multiple locations, reducing the time and cost associated with setting up complex network infrastructures. In addition, SD-WAN provides organizations with greater control over traffic flow and can enable the deployment of cloud services, applications, and other IT functions.
The global SD-WAN market is expected to reach $15 billion by 2023 and is projected to grow at a compound annual growth rate (CAGR) of 26%. Companies such as Cisco, VMware, and Aryaka have made significant investments in technology as organizations seek to optimize their networks for the digital era.
DriveNets is positioned to take advantage of this growing market. With its new funding round, the company has raised a total of $208 million in venture capital investment, and it has been valued at $1 billion. DriveNets has developed a unique software-defined networking (SDN) solution that combines the scalability of the cloud with the flexibility of software. The company’s platform allows carriers and service providers to quickly deploy large-scale multi-domain networks without needing hardware or specialized engineering expertise.
The future of networking infrastructure
The potential of DriveNets is huge, as it can allow for greater scalability, flexibility, cost savings, and improved performance. By creating a single platform that can scale with the needs of an organization, DriveNets offers a complete solution that can be used to provide the best possible experience to customers. This could mean lower latency, higher bandwidth, or even better security.
DriveNets could also bring further improvements to network architecture and reduce the need for specialized hardware and software, making networks simpler and easier to manage. This could lead to further cost savings and improved productivity in the long run.
Ultimately, DriveNets is aiming to revolutionize networking infrastructure and make it more efficient, reliable, and secure for users. With its strong backing from investors and its ambition to change the way we view networking, it is well-placed to succeed in this goal. It will be interesting to see how it progresses in the coming years and what new innovations it will bring to the market.