DriveNets secures $410 million in latest funding round, AMD joins as investor

DriveNets, an Israeli networking software firm, said it has raised $410 million in its latest funding round led by Bessemer Venture Partners and Atreides Management, taking its total capital-raise so far to $1 billion.

New investors ‌AMD ⁠and Red ⁠Dot Capital joined the round, while existing investors Pitango and D1 Capital Partners also participated. The company would use the proceeds to meet the surging demand for large-scale AI infrastructure, CEO Ido Susan said.

DriveNets did not disclose ⁠the valuation ‌secured after the latest funding. It did not immediately respond to a ⁠Reuters request for comment seeking the detail.