Telecommunication Software Developer DriveNets Raises $110 Million
Drivenets was founded by Ido Susan, who co-founded Intucell, bought by Cisco for $475 million, and Hillel Kobrinsky, who founded Interwise, bought by AT&T for $121 million
DriveNets develops network management tools for communications service providers (CSPs). The company was founded in late 2015 by entrepreneurs Ido Susan, who previously co-founded Intucell, acquired by Cisco in 2013 for $475 million, and Hillel Kobrinsky, who founded Interwise, bought by AT&T for $121 million in 2007. Drivenets employs a team of 150 people and plans to hire 50 more by the end of the year.
In an interview with Calcalist this week, Susan said that DriveNets, which was self-funded until now, was profitable, and that the funding round is meant to help the company grow substantially. “We leave a lot of money and a lot of deals on the table because we don’t have enough human resources to address demand,” he said.