DriveNets Reportedly Advances $40–50 Million Employee Share Sale

DriveNets, the Israeli AI-networking company based in Ra’anana, is reportedly advancing a $40–50 million secondary share sale to a new institutional investor. The proposed transaction would allow long-serving employees who have converted options into shares, along with senior employees, to sell holdings before an IPO or acquisition. The money would go to selling shareholders rather than provide new funding for the company. DriveNets did not respond to the report’s request for comment. In June, DriveNets announced a $410 million Series D to meet demand for Ethernet infrastructure in large AI deployments.