D1 Capital Leads $208 Million Funding Round in DriveNets

Paul, Weiss represented D1 Capital Partners in a $208 million Series B funding round in DriveNets Ltd., an Israel-based networking software company. D1 Capital led the funding round, valuing the company at $1 billion. Funds from the round will allow the company to expand its cloud infrastructure service to new geographies. Existing investors Bessemer Venture Partners and Pitango Venture Capital and new investor Atreides Management also participated in the round.

The Paul, Weiss team included corporate partners Ted Ackerman; intellectual property partner Claudine Meredith-Goujon; tax partner David Mayo; and litigation counsel Steven Herzog.