The open-source startup NetBox Labs announced that it received $20 million in a Series A funding round following the company’s spin-out from NS1, which IBM acquired.
“With the increasingly dynamic, distributed, and critical nature of networks, combined with the explosion of devices and the rapid transition of every enterprise to SaaS and connected systems, networking teams are feeling the crunch. In this reality, network automation is a critical priority,” said Jeremy Stretch, NetBox lead maintainer and co-founder. “NetBox has become a linchpin technology enabling organizations to accelerate their automation journeys and take back control of their networks.”
The funding round will help expand the development of open-source NetBox and NetBox Cloud, a hosted NetBox solution with specific performance and service level agreements and commercial support, according to the company in a blog post.
NetBox is a solution that integrates the functionalities of IP address management (IPAM) and data center infrastructure management (DCIM). By using NetBox, businesses can replace disorganized spreadsheets and use it as a basis for device provisioning, automated testing, monitoring updates, and other processes.
NetBox Labs has a team consisting of former NS1 executives in various fields such as finance, operations, technology, product, and business development, along with over a dozen dedicated members. The company’s headquarters will be in New York City, but it will have a remote workforce globally.
The funding round was led by Flybridge Capital and received funding from GGV Capital, Grafana Labs CEO Raj Dutt, Mango Capital, Salesforce Ventures, Two Sigma Ventures, IBM, and more.