DriveNets announced it has secured $410 million in Series D funding, bringing its total capital raised to $1 billion. The company said the new capital will be used to expand inventory and accelerate deployment of its Ethernet-based AI fabric solutions as demand for large-scale AI infrastructure continues to grow. The funding round was led by Bessemer Venture Partners and Atreides Management, with new participation from AMD and Red Dot Capital alongside existing investors Pitango and D1 Capital Partners.
According to DriveNets, the company has secured more than $1 billion in business commitments and has been cash-flow positive since 2025. The company plans to use the financing to support growing demand from foundation model developers, hyperscalers, NeoCloud providers, and large enterprises building AI infrastructure.
DriveNets originally built its reputation serving major telecommunications operators with its Network Cloud platform. The company has since adapted its networking technology for AI deployments, developing Ethernet-based AI fabrics designed to support scale-up, scale-out, and scale-across architectures. The platform is intended to improve GPU utilization, reduce networking bottlenecks, and speed up the deployment of large AI clusters.
The company is working with major AI ecosystem partners including AMD, Broadcom, Dell Technologies, and Supermicro to improve integration between networking and compute resources across multi-vendor AI environments. DriveNets believes these efforts will help customers maximize performance while lowering the cost of AI workloads.
A key focus for the company is enabling heterogeneous AI environments, where multiple types of AI accelerators from different vendors operate within the same cluster. DriveNets said its networking architecture is designed to optimize performance across these diverse environments, helping organizations improve efficiency, power utilization, and cost-per-token metrics as AI infrastructure evolves from training-focused deployments toward inference workloads.
Industry analysts believe open Ethernet networking will play a growing role in next-generation AI data centers as organizations move away from tightly integrated single-vendor stacks toward more flexible, multi-vendor architectures.
KEY QUOTES:
“This financing round marks a pivotal step in scaling our company to meet the surging demand for large-scale AI infrastructure. The most expensive idle asset in the world right now is a GPU waiting on the network. We’re applying a decade of high-performance networking expertise to enable our customers to achieve higher utilization, reduce cost per workload, and scale their AI operations efficiently — on any AI accelerator they choose.”
Ido Susan, CEO and Co-Founder, DriveNets
“AI infrastructure is entering a new era of open, integrated systems where compute, networking, and software scale together. Our support of DriveNets’ Series D reflects a shared commitment to scaling AI workloads efficiently with AMD Instinct accelerators and DriveNets’ high-performance fabric on open infrastructure, advancing open, standards-based AI data centers.”
Vamsi Boppana, Senior Vice President of AI, AMD
“As AI systems reach unprecedented scale, the performance of the underlying network fabric has become a primary driver of AI economics. Broadcom’s AI semiconductor and Ethernet switching solutions, combined with DriveNets’ high-performance fabric, deliver the scale and efficiency that modern AI workloads demand. This collaboration reflects how open Ethernet is becoming the foundation of the next-generation AI data center.”
Charlie Kawwas, President, Semiconductor Solutions Group, Broadcom
“AI networking is on track to surpass $200 billion by the end of the decade, driven by the shift from single-vendor stacks to multi-vendor and later heterogeneous AI infrastructures. DriveNets enters this phase with a strong combination — tier-one service provider reliability, validated AMD reference design, and the inventory position to deliver into a supply-constrained market. That positions the company well as open Ethernet becomes the foundation of next-generation AI infrastructure.”
Alan Weckel, Founder and Technology Analyst, 650 Group
“Every shift in compute produces a new networking giant. Cisco wired the internet. Arista wired the cloud. NVIDIA wired single-vendor AI. DriveNets is wiring what comes next: Heterogeneous AI. This is why BVP led DriveNets’ $410M Series D, an existing portfolio company we’ve backed since its Series A.”
Adam Fisher, Partner, Bessemer Venture Partners
