Ido Susan became known in the world of computer networking for selling his Israeli startup, Intucell, to Cisco for $475 million in 2013, according to Business Insider. Ido Susan is now CEO of startup DriveNets that raised $117 million in its first round of investing.

An impressive number of big names in tech have invested in the company, including Steve Luczo, chairman of Seagate; Mark McLaughlin, former Palo Alto Networks CEO; and John Thompson, chairman at Microsoft.

DriveNets under Ido Susan’s leadership is determined to upend the multi-billion dollar network equipment industry that is dominated by Cisco. They intend to do this by flipping the script of the normal business model for network equipment.

Currently, network giants sell expensive and specialized hardware products and then sell highly customized computer chips and software to run that equipment. Costs increase dramatically for companies as they grow and need to buy more switches and software.

DriveNets will give away for free the specifications to its hardware. They have shared this with the open source hardware community by Facebook called Open Compute Project. DriveNet then will sell its software for a flat fee.

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Economics, Finance and Investing