Microsoft Chairman Among Investors in Telecommunication Startup Drivenets
In February, Drivenets emerged from stealth with the announcement of $110 million in financing
Microsoft Chairman John Thompson was among the private investors who backed Israeli networking software startup Drivenets Ltd., the company announced Monday. In February, Drivenets emerged from stealth with the announcement that it has received $110 million in financing. At the time, Drivenets named Bessemer Venture Partners and Pitango Growth among its backers, alluding to several private investors who also participated.
In its Monday announcement, Drivenets revealed the identities of the investors. Data storage company Seagate Technology LLC's Executive Chairman Steve Luczo and Mark McLaughlin, former chairman and CEO of Palo Alto Networks Inc., also participated. Drivenets said that Luczo is set to join the company's board of directors.
John Thompson. Photo: Bloomberg
Pascal Cagni, founding partner of C4 Ventures Ltd and former Apple executive, also invested in Drivenets, as did Doug Gilstrap, a former executive at Telefonaktiebolaget LM Ericsson, and Israeli tech investor Benny Schnaider.
Drivenets develops network management tools for communications service providers (CSPs). It was founded in 2015 by 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. The company employs some 170 people in Israel and the U.S.
"We were able to bring into the fold several top executives—each having helped grow a giant tech company," Susan said in an interview with Calcalist Monday. "All these top executives invested substantial sums into the company, and wanted to invest even more," he said. "They all understand the scope of the revolution we have built."
Susan also said he expects to reach revenues in the hundreds of millions of dollars within five years.